RBL Bank tanks 20% as Vishwavir Ahuja goes on leave; analysts sound caution

RBL Bank on Saturday said its Managing Director and Chief Executive Officer Vishwavir Ahuja has proceeded on leave with immediate effect

Shares of RBL Bank hit a 52-week low at Rs 138, slipping as much as 20 per cent in Monday’s intra-day trade, after the bank said over the weekend that Vishwavir Ahuja, its managing director and chief executive officer, had gone on leave and the Reserve Bank of India (RBI) had appointed Yogesh K Dayal as an additional director of the bank.

The stock trades in the futures & option (F&O) segment, which has no circuit limits.On Monday, RBL Bank dipped below its previous low of Rs 155.65 touched on August 24, 2021 at the bourses. A combined 1.9