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South Indian Bank Q3 net profit up 15.4% at Rs.101.6 cr

South Indian Bank,  Financial Results

South Indian Bank has reported results for the quarter ended December 31, 2015

Mumbai: The bank recorded a rise of 15.4% in its net profit at Rs. 101.6 for the quarter ended December 31, 2015 as compared to Rs. 88 crore for the quarter ended December 31, 2014. The banks total income has increased by 6.4% at Rs.1,561 crore for the quarter against Rs. 1,467.1 crore in the corresponding quarter of the previous year.

Net NII in third quarter stood at Rs. 406.7 crore, up 27% from Rs. 320 crore in the year-ago period.

Stock Commentary:
South Indian Bank Ltd is currently trading at Rs. 17.6, down by Rs. 0.75 or 4.09% from its previous closing of Rs. 18.35 on the BSE.

The scrip opened at Rs. 18.4 and has touched a high and low of Rs. 18.4 and Rs. 17.55 respectively. So far 2935301(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 2477.57 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 31.05 on 19-Jan-2015 and a 52 week low of Rs. 17.95 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 19.45 and Rs. 17.95 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 31.93 % and 68.07 % respectively.

The stock is currently trading above its 200 DMA.

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