South Indian Bank up nearly 12% after Q4 profit rises

South Indian Bank

12/05/2023 06:34

** Shares of South Indian Bank Ltd  SIBK.NS  rise as much as
11.66% to 18.20 rupees, mark sharpest intraday pct gain since
Dec. 26 
    ** SIBK on Thursday reported 22.7% Y/Y rise in Q4 net profit
with interest earned rising 20.6% Y/Y
    ** Bank added its net interest margin improved by 15 bps
from 3.52% to 3.67% on Q/Q basis
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** Stock's moving average convergence divergence (MACD) line
above the signal line since Apr. 18, indicating bullish bias
    ** More than 89 mln shares change hands by 10:57 a.m. IST,
3.3x 30-day avg of 26.8 mln shares
    ** Four of 6 analysts covering the stock have a "buy" or
"strong buy" rating while 2 have "hold"; median PT is 18 rupees
- Refinitiv data
    ** Including session's gains, stock trims YTD loss to 4.79%
vs 112.4% rise in 2022


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))