As of October 29, 2024, South Indian Bank shares have decreased by 0.75%, trading at ₹23.68. In comparison, the Nifty index is down by 0.63%. The Sensex is at ₹79,576.79, down by 0.54%. During the trading day, the stock reached a high of ₹24.19 and a low of ₹23.57.
From a technical perspective, South Indian Bank shares are currently below their short-term simple moving averages (5, 10, and 20 days) as well as longer-term moving averages (50, 100, and 300 days). Pivot level analysis indicates key resistance levels at ₹24.33, ₹24.88, and ₹25.81, while support levels are found at ₹22.85, ₹21.92, and ₹21.37.
By 11 AM today, the trading volume for South Indian Bank on the NSE and BSE was 29.77% lower than the previous session, highlighting a decrease in market activity. Volume is a crucial indicator for assessing trends, with positive price movements accompanied by higher volume suggesting a sustainable increase, and negative movements indicating a potential further decline.
Overall, technical analysis by Mint suggests the stock is in a strong downtrend.
From a fundamental standpoint, the company has a return on equity (ROE) of 13.81%, a price-to-earnings (P/E) ratio of 4.71, and a price-to-book (P/B) ratio of 0.66. The one-year forecast for the stock shows a potential upside of 43.58%, with a target price of ₹34.00.
In terms of ownership, the promoter holding is at 0.00%, with mutual funds holding 2.75% (up from 2.67% in June) and foreign institutional investors (FIIs) holding 11.47% (down from 13.44% in June).
Today, South Indian Bank shares are down 0.75%, while its peers show mixed results. CSB Bank and DCB Bank are also falling, while Karnataka Bank and Ujjivan Small Finance Bank are seeing gains. Overall, benchmark indices Nifty and Sensex are down 0.63% and 0.54%, respectively.
