Shares of South Indian Bank rallied nearly 17 per cent on the Bombay Stock Exchange after the private sector lender reported over 16-fold growth in profit at Rs 70.13 crore for quarter ended September 30, 2018, compared to Rs 4.32 crore in the year ago period.
Driven by strong Q2, shares of the bank gained as much as 16.74 per cent and touched an intra-day high of Rs 14.71 apiece on the Bombay Stock Exchange.
In a similar trend, stocks of the lender were trading at Rs 14.35 apiece, up 13.89 per cent, on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 14.35, up 302.28 points, or 0.87 per cent, from the previous close on the BSE at 11:10 hours.