Jobaaj Stories
On March 28, 2023, the Board of Directors of South Indian Bank considered the decision of Ramakrishnan not to reappoint himself. Accordingly, the value of Shares of South Indian banks fell distinctly after the news.
The shares of south Indian Bank dropped to Rs.16.54 and have now hit a low price of Rs.13.79.
Starting from October 2020, the Ramakrishnan term was to end on September 30, 2023. As per the announcement, his decision was due to some family issues and personal issues as well.
The stock seems to be trading lower than 5,20,50 day estimates but higher than 200-day estimates. The country's relative strength index is 24.54, less than 30(oversold). A relative strength index above 70 is considered overbought.
While 4.85 is the price to Equity ratio of a company's stock.
South Indian Bank has a net profit of 102.75 crores in Q3 FY23. The loss margins were Rs. 50.31 crores, as noted in the previous year. South Indian Bank has more than 900 branches as well as 15+ regional offices across the nation. SIB has set up more than 1000 ATMs and cash deposit machines also.
The search committee of the board of directors will evaluate suitable candidates for the respective position soon.
- Kratika Agarwal
