South Indian Bank shares: Already up 15% in Oct, hit 52-week high - What is driving rally? More rise ahead? Expert view
Indian Bank is in focus.
· LiveMint Markets
The stock has been on a roll this month, rising as much as 15% so far in October. In fact, South Indian Bank shares have been hitting back-to-back 52-week highs for the last four consecutive sessions.
The analysis
Indian Bank reported movement of 15%. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.2% on the day at ₹855.00, and has returned -0.1% over three months. It sits 14% below its 52-week high. The banks sector has moved -5.4% over the same period, so Indian Bank is running 5.3 points ahead of its peers.
For Indian Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Market context
- The company directly in focus is INDIANB.
- Sector exposure: Banks.
- The immediate tone of coverage reads positive.
In this story
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