RBL Bank shares tumble 15% to hit 52-week low
Net profit of RBL Bank dropped 24% year-on-year to ₹222.52 crore for the quarter ended September compared with ₹294 crore in Q2 FY24.
Net profit of RBL Bank dropped 24% year-on-year to ₹222.52 crore for the quarter ended September compared with ₹294 crore in Q2 FY24.
Group MD & CEO Anish Shah has delivered a steep increase in RoE while pushing for fast growth in all group businesses.
Shares of Mahindra & Mahindra dropped as much as 7% on Thursday.
RBL Bank share price has zoomed 165% in one year, from its 52-week low of ₹91.10 on July 29, 2023.
RBL Bank does not see any significant risks to inflation with the withdrawal of ₹2000 notes.
RBL Bank was fined over the deficiencies in "regulatory compliance" observed relating to the period FY 2018-19 to FY 2021-22
RBL Bank board clears the issue of debt securities on a private placement basis up to ₹3,000 crore to fund its expansion plans
The Sensex and Nifty are poised to open in red on Thursday, in line with losses in Asia and Wall Street overnight amid concerns about global economic slowdown and prospect of rate hikes.
RBL Bank shares opened 10% lower at ₹102.05, while it declined as much as 15% to hit a 52-week low of ₹96.35 on the BSE.
The BSE Sensex and the NSE Nifty are expected to open lower on Thursday amid weak cues from global markets as well as spike in Covid-19 cases across the country.