RBL Bank stock hits new low of Rs 102, tanks 67% in two months

Axis Capital expects RBL Bank to report 71.5 per cent year-on-year (YoY) drop in net profit at Rs 70.5 crore.

Shares of RBL Bank hit a new low of Rs 102, down 7 per cent on the BSE in the intra-day trade on Wednesday, falling 20 per cent in the past three trading days on concerns of weak net earnings.

The stock of the private sector lender slipped below its previous low of Rs 105.60 touched on April 7, 2020. In the past two months, it has tanked 67 per cent despite management clarification that the bank is a well-capitalised and profitable entity. In comparison, the S&P BSE Sensex was down 23 per cent during the same period.