South Indian Bank’s stock tumbled almost 19% on January 30, 2026, hitting ₹36.01, its sharpest single-day fall on record. The sell-off followed CEO P.R. Seshadri’s decision not to seek reappointment after his current term ends in September 2026. The board has begun succession planning amid investor concerns.
Stock Movement: Shares of South Indian Bank Ltd. (NSE: SIBK.NS) fell 18–19% intraday, touching a low of ₹36.01, marking the steepest decline since July 2018.
Trading Context: The sharp drop came despite strong Q3 FY26 earnings, with net profit rising 9% YoY to ₹374.32 crore and operating profit up 10% YoY to ₹584.33 crore.
Leadership Transition
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CEO Announcement: Managing Director & CEO P.R. Seshadri informed the board on January 29, 2026 that he will not seek reappointment, citing personal interests. He will continue until September 30, 2026.
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Board Response: The bank confirmed it has initiated the process to identify a successor, requiring RBI and shareholder approvals before finalizing the appointment.
Key Highlights
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Record-breaking single-day fall in share price.
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Leadership uncertainty despite strong quarterly results.
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Succession planning underway to ensure continuity.
Sources: Reuters, CNBC-TV18, Economic Times