Multibagger Penny Stocks of 2023: Shares of South Indian Bank are one of the multibagger stocks that the Indian stock market has produced in the last six months. The stock of this private sector bank headquartered in Thrissur, Kerala has doubled the shareholders’ money in the last six months. 8 top 17 each level in this level. Despite weakness on Dalal Street, South Indian Bank share price opened higher today and moved to intraday high 16.90 level each, registering a rise of about 2 per cent in Tuesday’s deals.
According to stock market experts, a rising interest rate regime is expected to spur growth in the banking space as retail investors will have more money to lend due to an expected increase in their savings. He said the stock has strong support can go up to 12 25 Once It Lives Up 20 each level.
speaking on the south Indian Bank Ravi Singhal, CEO, GCL Broking said, “Due to the higher interest rate regime, the entire banking sector is expected to improve its NIM and hence better quarterly numbers can be expected in the coming quarters.”
Ravi Singhal of GCL Broking said that due to higher interest rate regime, retail investors are expected to raise their savings for higher yield which will put more money in their hands. South Indian Bank and other banks for their lending and other business purposes.
What chart pattern suggests regarding South Indian Bank Sumit Bagadia, Executive Director, Choice Broking said, “South Indian Bank shares have found strong support. 12 And it’s facing resistance 20-25 each area. Hence, those who have this banking stock in their stock portfolio are advised to hold the stock with stop loss 12. Stock may go up 25 each level if it passes its obstacle lasts 20 and up 20 per share level.”
south indian bank share price history
This multibagger penny stock has remained in base building mode since the beginning of new year 2023. In YTD time, this multibagger stock has fallen as much as 15 per cent, while it has fallen close to 7 per cent in the last one month. However, despite the selloff in YTD time, the banking stock has managed to deliver multibagger returns to its shareholders in the past six months. It has given 105 per cent return to its shareholders in the last six months, doubling the money of the shareholders during this time.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before taking any Investment Decision.
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