The sudden increase of 6% in the stock of this bank, the price crossed Rs 100, understand the reason for the jump

The Board of RBL Bank has decided to invest Rs. 3,000 crore has been allowed to be raised. However, fund raising is subject to shareholders’ approval. This means that shareholders’ approval is required.

The sudden increase of 6% in the stock of this bank, the price crossed Rs 100, understand the reason for the jump

The Indian stock market witnessed huge volatility on Tuesday. However, the share of private sector RBL Bank increased to 6 per cent during this period. With this jump, the company’s stock went beyond Rs 100.

What is the reason:

In fact, the board of RBL Bank has allotted Rs. 3,000 crore has been allowed to be raised. However, fund raising is subject to shareholders’ approval. This means that shareholders’ approval is required. At the same time, the board of the bank has also approved the appointment of two independent directors.

Share Price:

The stock of RBL Bank was earlier Rs. 98.25 up close to 6 per cent on the BSE at Rs. Got closer to 104.70. Share on 20th June 2022 Rs. 74.15 at 52-week low on November 10, 2021 at Rs. It reached a 52-week high of 221.20. The bank’s shares have fallen up to 35 per cent this year. Market cap on BSE is Rs. 6,242 crore.

In the quarter ended June 30, 2022, the bank made Rs. 201 crore in profit as against Rs. 459 crore as against net loss. Net interest income up 6 per cent in Q1 to Rs. 1027.1 crores as compared to Rs. 969.5 crores. The net interest margin stood at 4.36 per cent.

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