RBL Bank climbs over 10% in three days

RBL Bank jumped 6.12% to Rs 167.35, extending gains for the third trading session.

Shares of RBL Bank jumped 10.39% in three consecutive sessions.

The stock had outperformed the market over the past one month, soaring 15.57% compared with 1.71% rise in the Sensex.

The scrip outperformed the market in past one quarter, surging 25.64% as against Sensex's 3.86% rise.

The scrip had underperformed the market in past one year, falling 13.51% as against Sensex's 7.85% rise.

On the technical front, the stock's daily RSI (relative strength index) stood at 77.88. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 138.63, 124.74 and 118.94, respectively. These levels will act as crucial support zones in near term.

RBL Bank is one of India's fastest growing private sector banks with an expanding presence across the country. As of 30 September 2022, the bank has 507 bank branches and 1,204 business correspondent branches, of which 289 are banking outlets. RBL Finserve ("RBL Finserve"), a 100% subsidiary of the bank, accounts for 821 business correspondent branches.

RBL Bank reported a net profit of Rs 201.55 crore in Q2 FY23, steeply higher than Rs 30.80 crore posted in Q2 FY22. Total Income rose 7.5% to Rs 2,758.98 crore in Q2 FY23 as against Rs 2,567.65 crore recorded in the corresponding quarter previous year.

Powered by Capital Market - Live News