South Indian Bank's Profit Surge: A Stock Market Highlight

South Indian Bank's shares soared by 6.5% following an 18% rise in profits to Rs 325 crore in Q2 ending September 2024. Total income also increased, while both gross and net NPAs fell, demonstrating improved financial health and boosting investor confidence.

South Indian Bank witnessed a remarkable leap in its stock value, climbing 6.5% as the lender reported an 18% profit hike to Rs 325 crore for the second quarter of fiscal 2024.

On the BSE, the stock ended at Rs 25.51, after reaching a peak of Rs 25.65 earlier in the session. Similarly, on the NSE, shares increased to Rs 25.46.

The bank's financial strength improved with a reduction in Non-Performing Assets, signaling positive investor sentiment reflected in the increased share price.

(With inputs from agencies.)