RBL Bank vaults after large bulk deal

RBL Bank rose 4.06% to Rs 531.40 on BSE after a large bulk deal of 1.91 crore shares was executed on the scrip at Rs 524 per share in opening trade on BSE.

Meanwhile, the S&P BSE Sensex was down 362.43 points or 1.14% at 31,388.39

Bulk deal boosted volume on the scrip. On BSE, 2.08 crore shares were traded in the counter as against average daily volume of 2.09 lakh shares in the past one quarter. The stock hit a high of Rs 541.65 and a low of Rs 509 during the day. The stock had hit a record high of Rs 600 on 3 May 2017. The stock had hit a record low of Rs 273.70 on 31 August 2016.

The stock had underperformed the market over the past one month till 28 August 2017, sliding 4.45% compared with the Sensex's 1.73% fall. The scrip also underperformed the market over the past one quarter, gaining 0.23% as against the Sensex's 2.33% rise.

The large-cap bank has equity capital of Rs 379.31 crore. Face value per share is Rs 10.

RBL Bank's net profit rose 44.87% to Rs 141.02 crore on 26.03% growth in total income to Rs 1299.70 crore in Q1 June 2017 over Q1 June 2016.

RBL Bank is a private sector bank. The bank offers specialized services under six business verticals namely: Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Agribusiness Banking, Development Banking and Financial Inclusion, Treasury and Financial Markets Operations.

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