Buy RBL Bank, target price Rs 212: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on RBL Bank Ltd. with a target price of Rs 212. The current market price of RBL Bank Ltd. is Rs 202.2.

Time period given by analyst is Intra Day when RBL Bank Ltd. price can reach defined target.

RBL Bank Ltd., incorporated in the year 1943, is a banking company (having a market cap of Rs 12037.64 Crore).


RBL Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2804.57 Crore, up 3.68 % from last quarter Total Income of Rs 2704.90 Crore and up 5.64 % from last year same quarter Total Income of Rs 2654.88 Crore. The bank reported net profit after tax of Rs -462.25 Crore in latest quarter.

Investment Rationale
At the verge of fresh momentum post breakout with rising volumes, trending upwards on weekly frame.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 31.59 per cent, DIIs 22.34 per cent.