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South Indian Bank declines as RBI freezes FII exposure

28 Jul 2014 Evaluate

The South Indian Bank is currently trading at Rs 30.30, down by 0.35 points or 1.14% from its previous closing of Rs 30.65 on the BSE.

The scrip opened at Rs. 30.60 and has touched a high and low of Rs. 30.65 and Rs. 30.25 respectively. So far 409612 shares were traded on the counter.

The BSE group 'A ' stock of face value Rs. 1 has touched a 52 week high of Rs. 35.05 on 07-Jul-2014 and a 52 week low of Rs. 18.95 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 33.25 and Rs. 30.25 respectively. The current market cap of the company is Rs. 4092.00 crore.

The Institutions and Non-Institutions held 52.69 % and 47.31 % respectively.

The Reserve Bank of India (RBI) has barred foreign investors’ buying in South Indian Bank as their shareholding in the bank has crossed the threshold limit. The foreign shareholding through FIIs/ RFPIs/ non-resident Indians/ persons of Indian origin (PIO), foreign direct investment (FDI), American depository receipts (ADRs) and global depository receipts (GDRs) in the bank has crossed the prescribed threshold limit under the extant FDI policy. Hence, further purchases of equity shares of the bank would not be allowed through stock exchanges in India on behalf of FIIs/RFPIs/NRIs/PIOs and through FDI/ADRs/GDRs.

The bank’s net profit for the quarter ended June 30, 2014 rose by 10.28% at Rs 126.65 crore as compared to Rs 114.84 crore for the quarter ended June 30, 2013. Its total Income increased by 9.15% to Rs 1465.84 crore for the quarter under review from Rs 1342.88 crore for the corresponding quarter of the previous year.

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