South Indian Bank (SIB) has spiralled downwards depite reporting a decent rise in Q4 net. The bank is quoting at Rs 154, weaker by 11.8%, on the BSE. The shares had opened at the day's high of Rs 164 and have touched a low of Rs 144 thus far.
The bank announced a net profit of Rs 233.76 crore for FY2009-10, an increase of 20.03% over the previous year. The total business increased to Rs 39,127 crore, a growth of 29.40%, while the deposits went up to Rs 23,012 crore, an increase of 27.19% over the previous year.
Meanwhile, the bank recommended a dividend of Rs four per share this year as against Rs three for the previous one.
The trading volumes on the counter have spurted to 19.63 lakh shares as against the two-week average of 2.7 lakh shares.
