CSB Bank rose 1.19% to Rs 229.40 after the bank said that its total deposits increased 12.63% to Rs 17,468.73 crore in Q2 September 2020 from Rs 15,509.82 crore in Q2 September 2019.
Of the total deposits, CASA was at Rs 5134.36 (up 17.44% YoY) while the term deposits were at the 12,334.37 crore (up 10.74% YoY) as on 30 September 2020.
The bank's gross advances rose 11.92% to Rs 12,761.91 crore in Q2 FY21 from Rs 11,402.83 crore in Q2 FY20. Advances against gold & gold jewellery during the September 2020 quarter jumped by 47.10% year-on-year (YoY) to Rs 4,938.98 crore.
CSB Bank is an Indian private sector bank with its headquarters at Kerala, India.
The bank's net profit surged 174.10% to Rs 53.56 crore on a 28.84% jump in total income to Rs 496.88 crore in Q1 June 2020 over Q1 June 2019.
Shares of the private lender added 18.86% in the past three months while the benchmark S&P BSE Sensex rose 8.60% during the same period.
On the technical front, the stock is currently trading above its 50-day, 100-day and 200-day simple moving averages (SMA) placed at 215.36, 188.04 & 172.70, respectively.
The scrip's RSI (relative strength index) stood at 56.903. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
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