Buy RBL Bank, target price Rs 225: Edelweiss

Edelweiss has buy call on RBL Bank with a target price of Rs 225. The current market price of RBL Bank Ltd. is Rs 213.25. 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 12758.77 Crore).

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2704.90 Crore, up 2.61 % from last quarter Total Income of Rs 2636.20 Crore and down -2.80 % from last year same quarter Total Income of Rs 2782.77 Crore. The bank reported net profit after tax of Rs 75.74 Crore in latest quarter.

Investment Rationale
It has formed a higher bottom at Rs 207. A close above Rs 215 will lead to aggressive momentum on upside.


Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of Dec 30, 2020, while FIIs held 35.2 per cent, DIIs 24.7 per cent and public and others 40.2 per cent.