RBL Bank Shares Surge 6% Following Strong Q4 Report and Emirates NBD Stake Approval
RBL Bank share price up 6% on Q4 update, RBI's nod for stake acquisition
Business Standard
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RBL Bank's share price increased by nearly 6% after a positive Q4 business update and the Reserve Bank of India's approval for Emirates NBD Bank to acquire a 74% stake. The stock reached an intraday high of ₹318.50, driven by significant growth in deposits and advances.
- 01RBL Bank shares rose nearly 6% after Q4 results and RBI approval for Emirates NBD's stake acquisition.
- 02The stock opened at ₹308.95 and peaked at ₹318.50 during trading.
- 03RBL Bank's total deposits grew by 25% year-on-year to ₹1,39,037 crore.
- 04Gross advances increased by 22% year-on-year, totaling ₹1,15,488 crore.
- 05Analysts maintain a positive outlook, suggesting accumulation opportunities for investors.
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Shares of RBL Bank, a private sector lender in India, surged nearly 6% following the release of a strong Q4 business update and the Reserve Bank of India's (RBI) approval for Emirates NBD Bank (based in Dubai) to acquire a 74% stake in the bank. The stock opened at ₹308.95 on the National Stock Exchange (NSE) and reached an intraday high of ₹318.50. As of 1 PM, shares traded at ₹317.85 with a volume of approximately 17 million shares. RBL Bank's Q4 update revealed a 25% year-on-year growth in total deposits, reaching ₹1,39,037 crore, while gross advances rose by 22% to ₹1,15,488 crore. Analysts from Motilal Oswal Financial Services noted exceptional growth, maintaining a buy rating on the stock. Harish Jujarey, an analyst at Prithvi Finmart, indicated that RBL Bank's stock has shown resilience, suggesting it may revisit recent highs around ₹340, and advised investors to consider accumulation opportunities around ₹310–₹305.
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The approval for Emirates NBD's stake acquisition could enhance RBL Bank's financial stability and operational capabilities, potentially benefiting customers through improved services and products.
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