RBL Bank gains after a block deal

RBL Bank gains after a block deal

A total of 1.02 crore shares worth Rs 235.6 crore RBL Bank shares were exchanged on August 24.

RBL Bank shares have given 28 percent returns since January 1 and 90 percent returns in the last one year.

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RBL Bank shares were up 1.3 percent at Rs 233.2 at 11.26 am after 1.7 percent of the company’s equity changed hands in a block deal on August 24, according to Bloomberg. Details about the buyer and seller are not yet known.

A total of 1.02 crore shares worth Rs 235.6 crore RBL Bank shares were exchanged.

As of June 30, Nippon Life India Trustee Limited had 3.09 percent stake in RBL Bank, the biggest stake among mutual funds. Tata Mid Cap Growth Fund has 2.35 percent stake in the lender.

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ICICI Prudential Life Insurance holds 3.28 percent in RBL Bank.

Maple Li BV is the biggest foreign institutional investor in RBL Bank with a 9.98 percent stake in the company, as of June 30.

RBL Bank shares have given 28 percent returns since January 1 and 90 percent returns in the last one year.

Recently, Mahindra & Mahindra acquired a 3.53 percent stake in RBL Bank.

RBL Bank’s net profit increased 30 percent year-on-year (YoY) to Rs 288 crore in the April-to-June quarter. Revenue increased 30 percent YoY to Rs 2680 crore in the same period.

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