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RBL BANK Plunges 4%; BSE BANKEX Index Down 0.6%
Mon, 2 Dec 9:33

RBL BANK Plunges 4%; BSE BANKEX Index Down 0.6%Image source: CreativaImages/www.istockphoto.com

RBL BANK share price has plunged 4% and is presently trading at Rs 148.1.

Meanwhile, the BSE BANKEX index is at 58,929.9 (down 0.6%).

Among the top losers in the BSE BANKEX index today are Federal Bank (down 1.9%) and Indusind Bank (down 1.3%).

IDFC FIRST BANK (up 0.1%) is among the top gainers today.

Over the last one year, RBL BANK has moved down from Rs 237.7 to Rs 148.1, registering a loss of Rs 89.6 (down 37.7%).

On the other hand, the BSE BANKEX index has moved up from 49,496.9 to 58,929.9, registering a gain of 19.1% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 48.0%), ICICI Bank (up 39.7%) and Federal Bank (up 37.9%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,348.8 (down 0.6%).

The top losers among the BSE Sensex today are Indusind Bank (down 1.3%) and Bajaj Finance (down 1.3%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,034.6 (down 0.4%). ONGC and HDFC LIFE INSURANCE are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,174.2 to 79,348.8, registering a gain of 13,174.6 points (up 19.9%).

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 7.6.


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