South Indian Bank shares jump 11% after board approves candidates for MD & CEO posts

South Indian Bank’s shares surged by 11% to Rs 19.1 on the BSE after the bank finalised candidates for the posts of Managing Director and CEO. The bank will submit its candidates’ names to the Reserve Bank of India for approval. The stock has delivered multibagger returns to its investors, having surged 138% in the last year. The average target price of the stock is Rs 22, indicating a 17% upside from the current market prices. The consensus recommendation from five analysts for South Indian Bank is “Buy”.