Block deal effect: RBL Bank clocks highest turnover, shares fall 4%

Shares of RBL Bank slipped 4% in early deals on Thursday amid reports of a block deal worth  Rs 1,100 crore. Around 8% equity of the lender changed hands in the block deal. Buyers and sellers in the deal could not be verified. However, reports said private equity firm EQT (formerly Baring PE Asia) could offload 7.9 percent stake in the bank via a Rs 1,080-crore block deal. It means complete exit of EQT from the lender as latest shareholding data showed Maple II BV held 7.89 percent stake.

RBL Bank saw the highest turnover of  Rs 1160.67 crore after 508.65 lakh shares changed hands on BSE.

RBL Bank stock slipped 3.95% to Rs  228 against the previous close of Rs 237.40 on BSE. Market cap of the bank  fell to Rs 13,859 crore on BSE. The stock has a beta of 1.6, indicating high volatility in a year.   

In terms of technicals, the relative strength index (RSI) of RBL Bank stands at 38.3, signaling it's neither trading in the overbought nor in the oversold territory. RBL Bank shares are trading lower than the 5 day, 10 day, 50 day, 100 day, 150 day and 200 day moving averages. 

The bank’s standalone net profit rose 28.95 per cent to Rs 371.52 crore in Q1. Total income climbed 21.47 percent to Rs 4,301.70 crore in Q1FY25 over Q1FY24.

Net interest income climbed 20 percent year-on-year (YoY) to Rs 1,700 crore in the quarter ended June 30, 2024.