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South Indian Bank Shares Gain on US Fund's Stake Purchase

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South Indian Bank Ltd's shares gained as much as 5.9 per cent to a record high at Rs 35.05 after US-based Pabrai Investment Fund, run by fund manager Mohnish Pabrai, bought a 1.5 per cent stake, or 19.6 million shares, in the company on Friday.

Shares in South Indian Bank were up 3.8 per cent at Rs 34.35 as of 10:28 a.m.

Copyright: Thomson Reuters 2014

 

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