Brokerages mixed with results for RBL Bank after Q4 

Brokerages mixed with results for RBL Bank after Q4  Brokerages mixed: After the lenders announced a 54% depreciation in net income on May 7th in Rs 114 crore for the quarter of March after the provision for bad credit increased considerably. Brokerages held mixed views on RBL Bank.  In the... The post Brokerages mixed with results for RBL Bank after Q4  appeared first on stockinvestor.in.

Brokerages mixed with results for RBL Bank after Q4 

Brokerages mixed with results for RBL Bank after Q4 

Brokerages mixed:

After the lenders announced a 54% depreciation in net income on May 7th in Rs 114 crore for the quarter of March after the provision for bad credit increased considerably. Brokerages held mixed views on RBL Bank

In the same quarter of the previous financial year, the private sector lender posted a net profit of Rs 247 crore. 

In accordance with adequate capital and inexpensive valuations, Kotak Institutional Equities maintained the “buy” ranking for RBL Bank with a revised fair rate of Rs 270 (previous Rs 300). 

“RBL Bank announced that its profit decreased by about 55% YoY in respect to the high supply for bad credit.” 3 times YoY supply growth offset solid operating profit growth of 35%. The liability profile is developing positive (post-March), the corporate book view remains unchanged and the retail portfolio is developing negative because of the effect Covid-19 is having on the firm, “said the brokerage company.

The sum of bad loans and liabilities increased to Rs 614.08 crore during the quarter under review compared to Rs 199.97 crore in the same period last year. In contrast with Rs 739 crore a year earlier, net interest income of 38% went up to Rs 1,021 crore. 

At the same time, YES Securities has a call to the Rs 135 target price of the Bank for ‘Reduced.’ “The bank faces increased macro volatility in the near future, which will maintain a valuation test because of its portfolio complexion. Extensive COVID scenario that has a deeper effect on growth and asset quality, “said the brokerage.

RBL Share

Besides, on May 8th RBL Bank trading with the bearish trend. It trades with a loss of 8.55 points reached 120.30 INR with 6.64% down in NSE. Whereas in BSE, it trading with a loss of 8.55 points reached 120.35 INR with 6.63% down.

Stock Market May 8th Update Sensex and Nifty

On the fifth day of the week, the  trading with the bullish trend. The Sensex traded with a gain of 277.52 points reached 31,720.90 level with 0.88% up. Whereas, Nifty traded with a gain of 75.75 points reached 9,274.80 level with 0.82% up.

In the border market, the S&P BSE Midcap traded with a gain of 17.15 points reached 11,436.83  with 0.15% up. Whereas, S&P BSE SmallCap traded with a loss of 11.22 points reached 10,675.53 with 0.10% down. At the same time, Nifty bank traded with a gain of 75.75  points reached 19,567.55 with 0.39% up.

The post Brokerages mixed with results for RBL Bank after Q4  appeared first on stockinvestor.in.

Source : Stockinvestor More