South Indian Bank surges over 2% after RBI allows FIIs to buy further shares
Shares of South Indian Bank rose over 2 per cent in early trade on Bombay Stock Exchange (BSE) after the Reserve Bank of India (RBI) allowed foreign institutional investors (FIIs) to buy further shares in the bank as FII holdings had slipped below the limit.
The shares of Bank rose as much as 2.85 per cent to trade at Rs 25.30 a piece on the BSE. In a similar fashion, shares of the Bank rose 3.05 per cent to Rs 25.30 a piece on National Stock Exchange.
Meanwhile, the broader benchmark Sensex was quoting at 22,789.87, up 25.04 points or 0.11 per cent at 10:54 hours.