RBL Bank slips on profit booking

RBL Bank fell 2.67% to Rs 173.20, amid some profit bookings.

The stock had advanced by 6.21% over the past three sessions to end at Rs 177.95 yesterday, compared to its recent closing low of Rs 167.55 recorded on December 20, 2021.

Year-to-date (YTD), the stock is down 25.03% while the benchmark Sensex has gained 19.63% over the same period.

On the technical side, the stock’s RSI (Relative Strength Index) stood at 37.005. The RSI fluctuates between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when it is below 30.

The stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 195.15, 186.68 and 197.51, respectively.

RBL Bank currently serves over 9.97 million customers through a network of 445 branches, 1,435 business correspondent branches (including 271 bank outlets) and 386 ATMs spread across 28 Indian states and union territories.

The bank’s net profit decreased by 78.63% to Rs 30.80 crore on a 2.10% increase in total revenue to Rs 2,567.65 crore in Q2 FY22 compared to Q2 FY21.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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