South Indian Bank shares gain on U.S. fund's stake purchase

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

Shares in South Indian Bank up 3.8 percent at 34.35 rupees at 10:28 a.m.

(Reporting by Indulal PM)