rbl bank share price After making an intraday high, the fall halted today 129.25 per share level. Banking stock opened on the downside but soon picked up momentum and came close to its 31st December 2021 127.15 level on NSE. According to stock market experts, this halt in fall in RBL Bank share prices can be attributed to a strong business update filed by the bank on Sunday. On January 2, 2022, the private lender reported that its deposits grew by 9.61 per cent. 73,637 crore on a year-on-year (YoY) basis.
RBL Bank Shares: Buy or Sell?
on whether one should take a new position in the counter requiring a lower floor; Ravi Singhal, Vice Chairman, GCL Securities, said, “On a year-on-year basis, RBL Bank has reported an increase in its deposits, but if we compare it with the quarter of September 2021, it is around 2.50 per cent lower So, further details must be waited for. The fundamentals of the company are expected to come out. Fresh audit is expected after RBI has placed its person to examine and monitor the management of the bank and after the audit, The actual financials of the bank will become available in the public domain. Hence, this pause should not be taken as a downside of the stock and my advice to new investors is to wait further as more details of the bank financials are expected.” He said that the information filed by RBL Bank is provisional and the final result is yet to come.
advising the shareholders of RBL Bank to maintain strict stop loss; Mudit Goyal, Senior Research Analyst, SMC Global Securities said, “It is not ideal for new investors to take positions at current levels. However, the stock has strong support. 110. Hence, those having RBL Bank shares in their stock portfolio are advised to maintain strict stop loss 110.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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