Hold South Indian Bank, says Gaurang Shah

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "South Indian Bank numbers were a little disturbing, no doubt about it, but we maintain the positive coverage right from the levels of Rs 18 and Rs 20 when the stock was languishing over there. At the current earnings that we have seen, we believe that there is turnaround that is visible."

"I am quite sure there would be significant changes post the policies that the government is implementing along with the consultation with Reserve Bank of India. So, my belief is that this is one particular bank which may possible take time but it will definitely deliver. So, have at least a year, year and a half, two plus kind of time horizon for its reach to the levels of Rs 26-28," he added.