South Indian Bank looks a good value buy. But the key monitarable has been the NPA’s which has been deteriorating QoQ. If we can believe what the management is saying then we are at peak NPA levels and things can improve only from here. Also UDAY should significantly help them is what managment is claiming. This is another key moniterable.
Disc - Invested about an year back at 24 levels. Slowly buying since 17 levels. Will increase further allocation based on how things pan out in next 2 quarters.