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30-Nov2017

South Indian Bank trades higher on the bourses

South Indian Bank is currently trading at Rs. 33.25, up by 0.40 points or 1.22% from its previous closing of Rs. 32.85 on the BSE.

The scrip opened at Rs. 32.95 and has touched a high and low of Rs. 33.45 and Rs. 32.55 respectively. So far 2120521 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 33.45 on 30-Nov-2017 and a 52 week low of Rs. 16.83 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 33.45 and Rs. 30.85 respectively. The current market cap of the company is Rs. 6013.29 crore.

The institutions and non-institutions held 50.17% and 49.83% stake in the Bank, respectively.

South Indian Bank has allotted 49,000 numbers of Non-Convertible, Redeemable, Unsecured, Basel III Compliant Tier 2 Bonds, for Inclusion in Tier 2 Capital of the Bank in the nature of debentures of the face value of Rs 1,00,000 each at par aggregating Rs 490 crore with interest at 9.50% per annum payable half yearly for a period of 126 months. The said Non-Convertible, Redeemable, Unsecured, Basel III Compliant Tier 2 Bonds shall be listed on BSE.

The Bank has reported 96.09% fall in its net profit at Rs 4.32 crore for second quarter ended September 30, 2017 under review as compared to Rs 110.52 crore for the same quarter in the previous year. However, total income of the Bank increased by 13.82% at Rs 1816.67 crore for Q2FY18 as compared Rs 1596.08 crore for the corresponding quarter previous year.

The Bank's gross NPA for the July-September quarter of the current fiscal improved to 3.57%, as compared to 3.96% in the same quarter of the previous year. Besides, Bank's Net NPA stood at 2.57% in Q2FY18.


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