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RBL BANK Plunges 6%; BSE BANKEX Index Down 3.2%
Mon, 5 Aug 11:28

RBL BANK Plunges 6%; BSE BANKEX Index Down 3.2%Image source: Kameleon007 /www.istockphoto.com

RBL BANK share price has plunged 6% and is presently trading at Rs 212.4.

Meanwhile, the BSE BANKEX index is at 56,613.8 (down 3.2%).

Among the top losers in the BSE BANKEX index today are SBI (down 4.7%) and Bank of Baroda (down 4.6%).

Over the last one year, RBL BANK has moved down from Rs 224.5 to Rs 212.4, registering a loss of Rs 12.2 (down 5.4%).

On the other hand, the BSE BANKEX index has moved up from 51,331.3 to 56,613.8, registering a gain of 10.3% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 41.3%), SBI (up 32.1%) and ICICI Bank (up 17.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 78,390.2 (down 3.2%).

The top losers among the BSE Sensex today are Tata Motors (down 6.8%) and Tata Steel (down 5.6%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,914.3 (down 3.3%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 78,390.2, registering a gain of 11,930.9 points (up 18.0%).

RBL BANK Financial Update...

RBL BANK net profit grew 9.9% YoY to Rs 3,511 million for the quarter ended June 2024, compared to a profit of Rs 3,195 million a year ago. Net sales rose 22.5% to Rs 34,969 million during the period as against Rs 28,554 million in April-June 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 10.0.


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