South Indian Bank Shares Gain After Strong Q1 Business Update

South Indian Bank Ltd. shares were trading higher during early trade on Wednesday after it posted its business update for the first quarter of fiscal 2026.

Gross advances jumped 8.02% on a yearly basis to Rs 89,201 crore in the April-June quarter, according to the provisional quarterly business update filed with the exchanges on Tuesday. The bank reported a 9.07% growth in deposits at Rs 1.13 lakh crore in the first quarter, as compared to Rs 1.04 lakh crore in the same period last year.

During the same period, total current account saving account, or CASA, rose 9.06% year-on-year to Rs 36,204 crore.

The CASA ratio—the proportion of deposits that come from low-cost current and savings accounts—was stable at 32.06%. A higher CASA ratio indicates a lower cost of funds since lenders do not usually give any interest on current account deposits, and the interest on savings accounts is low.

The South Indian Bank stock rose as much as 2.06% during the day to Rs 32.25 apiece on the NSE. It was trading 0.32% higher at Rs 31.7 apiece, compared to a 0.08% advance in the benchmark Nifty 50 as of 9:31 a.m.

It has risen 19.15% in the last 12 months and 26.62% on a year-to-date basis. The relative strength index was at 48.9.

Three out of five analysts tracking the bank have a 'buy' rating on the stock and two recommend a 'hold', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 33.6, implying an upside of 6.3%.