yes… exposure to Kerala ( almost like in Federal bank) is a negative especially due to various situations like Covid, floods etc from past three years… and that is why SIB has no takers even at 0.25 BV till a few days ago… Governance of state has been a factor since several decades…
IMHO, if management walks the talk… a reasonable 1X BV for SIB could materialize in medium term…
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