Anand Rathi Securities maintains buy on South Indian Bank, target price Rs 16

INSUBCONTINENT EXCLUSIVE:
south indian bank share price: Anand Rathi Securities maintains buy on South Indian Bank, target price Rs 16 - The
TheIndianSubcontinentRecosLATEST NEWS'BUY' or 'SELL' ideas from experts for Tuesday, 21 January, 2020Stocks in the news: Bharti Airtel,
IndiaMart, ZEEL, ICICI Pru Life, Oil India and Vodafone IdeaWhat changed for D-Street while you were sleepingWhat's really weighing on
raising stake in these companies, should you buy, too?Stock Analysis, IPO, Mutual Funds, Bonds - MoreThe brokerage expects the credit costs
of the bank to normalize on account of asset quality stablisation and lower slippages.ETMarkets.com|Updated: Jan 21, 2020, 08.39 AM
ISTThinkStock PhotosAnand Rathi Securities has maintained its buy rating on South Indian Bank in the long term with a target price of Rs 16
The stock closed at Rs 11.1, up 1.3% on Monday while the BSE Sensex closed 416.46 points (0.99%) down at 41,528.91. Company FinancialsFor
the quarter ended 31-12-2019, the company has reported a standalone interest income of Rs 1556.82 crore, up .42 % from last quarter interest
income of Rs 1550.31 crore and up 14.03 % from last year same quarter Interest Income of Rs 1365.33 crore
The bank has reported net profit after tax of Rs 90.54 crore in the latest quarter
to the secured retail and SME portfolios
However, the brokerage expects the credit costs of the bank to normalize on account of asset quality stablisation and lower slippages
Lumpy delinquencies from the corporate book are however negatives to look out for in the stock. Market is taking a positive turn: Devang
Mehta, Anand Rathi SecuritiesYes Bank Q2 nos decent on the back of stable asset quality: Nikhil Rungta, Anand Rathi SecuritiesExpect IT
earnings to remain robust: Devang Mehta, Anand Rathi SecuritiesExpect market polarisation to continue: Devang Mehta, Anand Rathi
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