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RBL BANK Plunges 13%; BSE BANKEX Index Down 0.3%
Mon, 21 Oct 9:48

RBL BANK Plunges 13%; BSE BANKEX Index Down 0.3%Image source: phive2015/www.istockphoto.com

RBL BANK share price has plunged 13% and is presently trading at Rs 176.6.

Meanwhile, the BSE BANKEX index is at 59,179.6 (down 0.3%).

Among the top losers in the BSE BANKEX index today are Kotak Bank (down 4.4%) and Indusind Bank (down 2.3%).

HDFC Bank (up 2.6%) and Axis Bank (up 0.5%) are among the top gainers today.

Over the last one year, RBL BANK has moved down from Rs 245.7 to Rs 176.6, registering a loss of Rs 69.1 (down 28.1%).

On the other hand, the BSE BANKEX index has moved up from 49,954.6 to 59,179.6, registering a gain of 18.5% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 41.5%), ICICI Bank (up 31.6%) and Federal Bank (up 31.3%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 81,024.9 (down 0.2%).

The top losers among the BSE Sensex today are Kotak Bank (down 4.4%) and Indusind Bank (down 2.3%). The most traded stocks in the BSE Sensex are HDFC Bank and Tata Steel.

In the meantime, NSE Nifty is at 24,772.3 (down 0.3%). Tata Consumer Products and Kotak Bank are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,428.1 to 81,024.9, registering a gain of 14,596.8 points (up 22.0%).

RBL BANK Financial Update...

RBL BANK net profit fell 30.0% YoY to Rs 2,317 million for the quarter ended September 2024, compared to a profit of Rs 3,311 million a year ago. Net sales rose 17.4% to Rs 35,310 million during the period as against Rs 30,078 million in July-September 2023.

For the year ended March 2024, RBL BANK reported 37.0% increase in net profit to Rs 12,599 million compared to net profit of Rs 9,195 million during FY23. Revenue of the company grew 28.1% to Rs 123,938 million during FY24.

The current Price to earnings ratio of RBL BANK, based on rolling 12 month earnings, stands at 9.0.

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