RBL Bank zooms 21.12% in seven sessions

RBL Bank spurted 5.68% to Rs 588.40 at 12:27 IST on BSE, with the stock extending recent strong gains.

Meanwhile, the S&P BSE Sensex was down 55.72 points, or 0.19% at 29,650.89.

On the BSE, 5.95 lakh shares were traded on the counter so far as against the average daily volumes of 3.19 lakh shares in the past one quarter. The stock had hit a high of Rs 598.70 so far during the day, which is also its record high. The stock had hit a low of Rs 561.05 so far during the day.

The stock had hit a 52-week low of Rs 273.70 on 31 August 2016. The stock had outperformed the market over the past one month till 7 April 2017, advancing 17.52% compared with the Sensex's 2.44% rise. The scrip had also outperformed the market over the past one quarter advancing 56.54% as against the Sensex's 11.01% rise.

The large-cap bank has equity capital of Rs 375.20 crore. Face value per share is Rs 10.

Shares of RBL Bank zoomed 21.12% in seven trading sessions to its current ruling price of Rs 588.40, from a close of Rs 485.80 on 29 March 2017.

RBL Bank's net profit rose 58.8% to Rs 128.69 crore on 39% growth in net total income to Rs 1143.48 crore in Q3 December 2016 over Q3 December 2015.

RBL Bank is a private sector bank. It currently services over two million customers through a network of 215 branches and 374 ATMs spread across 16 Indian states and Union Territories. 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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