South Indian Bank Stock Soars 2.27% to Rs. 31.1 on Monday, April 29.

South Indian Bank Share Price Soars by 2.27% to Reach 31.1 Rupees on Monday

📈 The South Indian Bank Limited’s share price saw a significant increase of 2.27% on Monday, reaching 31.1 rupees in trading. This upward trend reflects the bank’s strong performance in recent years, with a network of 948 branches and 1315 ATMs across Kerala.

ICICI Direct Recommends Buying South Indian Bank Shares for Next 12 Months

📊 ICICI Direct has recommended buying South Indian Bank shares for the next 12 months, citing a 300% return in the past two years. The bank’s focus on MSME and retail portfolios is expected to improve margins, with an average data growth of 13% projected for FY24-26.

Rights Issue Raises 1,151 Crore Rupees for South Indian Bank

💰 Through a rights issue, South Indian Bank raised 1,151 crore rupees, strengthening its balance sheet. This move has contributed to the stock’s impressive performance, with a 305% return in the last two years.

Share Price Reaches All-Time High of 40 Rupees in February

🚀 In February, South Indian Bank’s share price reached an all-time high of 40 rupees before dipping to 25 rupees in March. However, a strong recovery has seen the stock rise to 31.1 rupees on Monday, offering lucrative returns for long-term investors.

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