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 market sentiment suddenly?Lanco lenders hope for some recovery from Anpara PowerBrokerages upbeat on RILs retail, telecom businesses, retain ratingsRBI says crypto not banned, but dont bank on itAce investors increase stakes in Titan, India Cements, BirlasoftPromoters 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.
Investment RationaleThe brokerage expects the net interest margins of the bank to remain flat in the near term given the banks inclination 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 SecuritiesCommenting feature is disabled in your country/region.Browse CompaniesABCDEFGHIJKLMNOPQRSTUVWXYZ|1234567891Anand Rathi Securities maintains buy on South Indian Bank, target price Rs 16HDFC Securities maintains neutral on Reliance Industries, target price Rs 1,562 Buy Indian Bank, price target Rs 110: Jay ThakkarBuy Castrol India, price target Rs 145: CK NarayanBuy Bharat Electronics, price target Rs 115: Kunal BothraBuy Axis Bank, price target Rs 755: Jay ThakkarBuy United Spirits, price target Rs 605: Jay ThakkarBuy Siemens, price target Rs 1,610: CK Narayan Buy Bharti Airtel, price target Rs 510: CK Narayan Buy Lupin, price target Rs 805: Kunal BothraBuy Ashok Leyland, price target Rs 90: Kunal Bothra To see your saved stories, click on link hightlighted in bold