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RBL Bank rises on concluding acquisition of additional stake in Swadhaar FinServe

10 Nov 2017 Evaluate

RBL Bank is currently trading at Rs. 513.20, up by 2.95 points or 0.58% from its previous closing of Rs. 510.25 on the BSE.

The scrip opened at Rs. 510.95 and has touched a high and low of Rs. 515.05 and Rs. 506.30 respectively. So far 33,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 600.00 on 03-May-2017 and a 52 week low of Rs. 325.65 on 28-Dec-2016.

Last one week high and low of the scrip stood at Rs. 528.00 and Rs. 506.30 respectively. The current market cap of the company is Rs. 21,364.00 crore.

RBL Bank has completed the acquisition of additional 28.40% of the paid up equity share capital in Swadhaar FinServe on 08 November 2017. Following the acquisition, the bank’s total shareholding in Swadhaar has increased to 58.40%, thereby making it a subsidiary of the bank.

Recently, the bank had launched its digital product - Insta Redemption Solution - exclusively for LIC Mutual Fund, at the LIC Mutual Fund (MF) Head Quarters in Mumbai.

RBL Bank is one of India’s fastest growing private sector banks with an expanding presence across the country.



Peers
Company Name CMP
HDFC Bank 722.40
ICICI Bank 1359.00
Axis Bank 1243.95
Kotak Mahindra Bank 414.90
Indusind Bank 945.05
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