Kotak Mahindra International has bought 2.11% stake or 28.50 million shares of South Indian Bank through open market route. The shares were purchased on an average price of Rs 25.75 valuing the transaction to Rs 73.38 crore. On the other hand, India Capital Fund has sold 48.9 million shares of the bank for an average price of Rs 25.75 through open market route.
South Indian Bank has registered a fall of 37.78 % in its net profit after tax at Rs 87.93 crore for third quarter ended December 31, 2014 as compared to Rs 141.31 crore for the same quarter in the previous year. However, total income of the bank has increased 9.92 % at Rs 1467.13 crore for Q3FY15 as compared Rs 1334.74 crore for the corresponding quarter previous year.
