Shares of RBL Bank climbed nearly 5 percent maintaining its upward trend. The bank has been giving high returns on the market to investors recently. In the past 5 days, shares of RBL Bank have gained over 24 percent while in a month the shares have gained over 34 percent.

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At 10:04 am, shares of RBL Bank were trading at Rs 129, a 4.9 percent increase from the previous close on the BSE. This despite RBL Bank being put as a part of the F&O ban list by NSE today. The NSE updates the list of securities in F&O ban for trade every day.

The shares have been in the news in recent days. College Retirement Equity Fund has bought 45.84 lakh shares or 0.7 percent in RBL Bank via open market transactions at an average of Rs 108.86 per share.

The bank also announced on August 22, that its board has cleared raising up to Rs 3,000 crore to fund the lender's business growth. The fundraising will be subject to the approval of the shareholders, the bank said.

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"Issue of debt securities on private placement basis, from time to time, up to an amount of Rs 3,000 crore, subject to the approval of the Members of the Bank at the ensuing Annual General Meeting of the Bank, pursuant to Section 42 and other applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations," said RBL Bank in a regulatory filing.

RBL Bank also said it sold a 17.78 percent stake in Kilburn Engineering between May and August 2022.

In another filing, the bank also notified that the board also cleared the appointment of two independent directors — Gopal Jain, Managing Partner and Founder, Gaja Capital, and Sivakumar Gopalan, Faculty of the Department of Computer Science and Engineering, IIT Bombay.

Also read: RBL Bank shares surge as board approves plan to raise Rs 3,000 crore

In its financial earnings report for the April-June period, RBL Bank posted a net profit of Rs 201 crore as compared to a net loss of Rs 459 crore in the corresponding period a year ago. Net interest income (NII) increased 6 percent and stood at Rs 1,028 crore against Rs 970 crore in the corresponding period a year ago.

The share has lost 35 percent in a year and is down 19.17 percent since the beginning of 2022. The total number of shares traded was 16.23 lakh, resulting in a turnover of Rs 16.49 crore. On BSE, the lender's market cap was Rs 6,192.99 crore.

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First Published:Aug 25, 2022 11:21 AM IST