Getty ImagesGeojit Financial Services has buy call on South Indian Bank with a target price of Rs 21.The current market price of South Indian Bank is Rs 18.87. Time period given by analyst is year when South Indian Bank price can reach defined target.
South Indian Bank, incorporated in the year 1929, is a banking company (having a market cap of Rs 3798.32 Crore).
South Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 2317.50 Crore, up 24.34 % from last quarter Total Income of Rs 1863.87 Crore and up 26.00 % from last year same quarter Total Income of Rs 1839.28 Crore. The bank has reported net profit after tax of Rs 333.53 Crore in latest quarter.
Investment Rationale
Improving fundamentals lead to higher valuations and hence the brokerage maintains a buy based on 0.6x FY25E Adj P/BV.
I
South Indian Bank, incorporated in the year 1929, is a banking company (having a market cap of Rs 3798.32 Crore).
South Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 2317.50 Crore, up 24.34 % from last quarter Total Income of Rs 1863.87 Crore and up 26.00 % from last year same quarter Total Income of Rs 1839.28 Crore. The bank has reported net profit after tax of Rs 333.53 Crore in latest quarter.
Investment Rationale
Improving fundamentals lead to higher valuations and hence the brokerage maintains a buy based on 0.6x FY25E Adj P/BV.
I
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