RBL Bank falls for 2nd day; down over 40% in six months

RBL Bank declined 3.77% to Rs 85.60, extending losses for second day.

The stock has lost 6.19% in two sessions, from its recent closing high of Rs 91.25 recorded on 27 June 2022.

In the past six months, the scrip has dropped 40.68% while the benchmark Sensex has lost 8.31% during the same period.

On the technical front, the stock's daily RSI (relative strength index) stood at 37.290. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

In daily chart, the stock is trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 107.35, 121.37 and 150.17, respectively.

RBL Bank is engaged in providing a range of banking and financial services, including commercial banking, retail banking, agriculture finance and financial inclusion, treasury operations and other banking related activities.

RBL Bank's standalone net profit surged 162.6% to Rs 197.83 crore on a 5.1% rise in total income to Rs 2,642.31 crore in Q4 FY22 over Q4 FY21.

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