An analyst from Arihant Capital Markets said that YES Bank is maintaining the lower top lower bottom formation which is a sign of weakness with the stock having taken support at the 150-days SMA.
RBL Bank is looking to function as a subsidiary of Emirates NBD while remaining listed, and the management is optimistic about securing all required approvals, ICICI Securities.
RBL Bank shares ended the previous session 1.96% lower at ₹322.3 apiece. The stock has seen a significant rally, gaining 16.9% over the past month, 63.5% in the last six months.
YES Bankand RBL Bank would benefit from the foreign bank ownership, Emkay said. This would bring new business opportunities in corporate banking (especially SME) and some edge in retail deposits, it added.
The lender was in advanced talks with Zerodha to open bank accounts for its 160 million broking clients, said a report.
Recent investments: Warburg Pincus and ADIA in IDFC First Bank; Emirates NBD’s proposed majority investment in RBL Bank, SMBC in YES Bank, Fairfax in CSB Bank, DBS bank merger with Lakshmi Vilas Bank.
RBL Bank: Under SEBI guidelines, the open offer can be completed first, and the preferential issue (and open offer) will be proportionately adjusted to ensure minimum public shareholding remains at 25 per cent.
RBL Bank is scheduled to hold a board meeting on October 18 to approve its September quarter results.
RBL bank deal: The Reserve Bank of India (RBI) is said to have already granted in-principle approval for the change of control.
An analyst from Anand Rathi said that, BHEL is seen consolidating in a range between Rs 230–243 and is currently trading within this band on the weekly timeframe.
Lenders focused on unsecured loans were particularly affected—IDFC First Bank fell around 41 per cent, IndusInd Bank 73 per cent, Bandhan 46 per cent, RBL Bank 43 per cent, Equitas SFB SFB 95 per cent.





