RBL Bank shares crashed almost 8% in morning trade on the BSE on Tuesday, 13 October, a day after the bank reported its September quarter earnings. RBL Bank share price opened at ₹401.95 against its previous close of ₹420 and crashed 7.7% to an intraday low of ₹387.85.
On 12 October, the bank said its net profit for Q2FY27 jumped 170% year-on-year (YoY) to ₹482 crore, while operating profit grew 92% YoY to ₹1,396 crore.
Its net interest income (NII) during the quarter grew 37% YoY to ₹2,131 crore, while net interest margin (NIM) stood at 4.61% compared to 4.51% YoY.
Net advances grew 42% YoY to ₹1,42,314 crore, with retail-wholesale mix at 56:44.
Brokerage firm Emkay Global Financial Services has maintained a "buy" recommendation on the stock and raised the target price to ₹475 from ₹430 earlier.