RBL Bank shares rebound 15% after plunging 31% in two days

The bank said that rumors around financial health and stability of the institution especially in social media seem to be "misplaced, motivated and not based on facts"

Shares of RBL Bank surged up to 15 per cent to Rs 239 on the BSE in Wednesday's early morning deals, after the private sector clarified that the bank is "financially strong and well-capitalized".

RBL Bank's stock hit an all-time low of Rs 199 on Monday, March 9, 2020. It had fallen below its IPO price of Rs 225 per share. In the past two trading days, the stock has tanked 31 per cent, against 7 per cent decline in the S&P BSE Sensex in the same period.

“We wish to re-emphasize that RBL Bank is a fundamentally