Sell RBL Bank, target price Rs 110: Yes Securities

Yes Securities has sell call on RBL Bank with a target price of Rs 110. The current market price of RBL Bank Ltd. is Rs 122.2. 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 7331.28 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 31-12-2021, the company reported a Consolidated Total Income of Rs 2727.28 Crore, up 3.74 % from last quarter Total Income of Rs 2629.08 Crore and up 3.45 % from last year same quarter Total Income of Rs 2636.20 Crore. The bank reported net profit after tax of Rs 121.61 Crore in latest quarter.

Investment Rationale
Stock has broken down from a bearish flag pattern suggesting weakness. Further, RSI is also suggesting lower levels in the coming sessions.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Dec-2021, while FIIs owned 31.31 per cent, DIIs 19.68 per cent.