South Indian Bank at a new high
By
Research Desk
about 10 years ago
South Indian Bank has been consistently hitting a new high since 30th June. Today too, it hit a new at Rs.35.05 and presently remains over 5.5% higher at Rs.34 levels.
The Bank stock has been hitting highs since an FII, Pabrai Investment set its eyes on the company. The FII bought a 1.45% stake in the company, which is almost 2 crore shares at Rs.32.50/share through a block deal. On the other hand, another fund, Muliples PEsold 1.45 lakh shaeres or 1% stake of the 4% stake which it held, at the same price which Pabrai bought.
As at 31st March 2014, FIIs stake in the bank stood at 41.69% while that of domestic funds was at 12.02%.