Share price of this bank stock moved up by nearly 3.1% to Rs. 260.8 in the morning trading session of March 7th, compared to its previous close of Rs. 252.95, after the former Blackstone executive bought stake in the company.
With a market capitalisation of Rs. 15,532 crores, at 10:50 a.m. the shares of RBL Bank Limited were trading in the green at Rs. 256.75 on NSE, up by 1.5 percent.
In the last one year, the company has delivered positive returns of about 55.43 percent and nearly 9.06 percent in the last six months. So far in 2024, it has given negative returns of around 9.7 percent.
According to the bulk deal data available on the NSE, a former Blackstone executive, Mathew Cyriac, bought 32.5 lakh equity shares in RBL Bank Limited on Wednesday at an average price of Rs. 250.91, for a total transaction value of about Rs. 81.54 crore.
In terms of financials, the revenue from operations of the company grew by 6.08 percent QoQ from Rs. 3,008 crore in Q2 FY23-24 to Rs. 3,191 crore in Q3 FY23-24.
However, the net profit of the company decreased by around 25.98 percent QoQ, from Rs. 331 crore in Q2 FY23-24 to Rs. 245 crore in Q3 FY23-24.
As of December 2023, FIIs hold 28.27 percent of the shares, whereas DIIs hold 19.34 percent of the shares in the company, aggregating to 47.61 percent of the institutional holdings.
Founded in the pre-independence era in 1943, RBL Bank Limited is one of India’s leading private-sector banks.
The bank offers services under five business verticals namely corporate banking, commercial banking, branch & business banking, retail assets and treasury & financial markets operations.
Written by Shivani Singh
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