RBL Bank rose 3.58% to Rs 359.90 after the media reported that the bank is looking to raise about Rs 1,500 crore within a week through a mix of a preferential issue and a qualified institutional placement of equity shares.
Meanwhile, the S&P BSE Sensex was up 62 points or 0.15% to 40,883.01.
The RBL Bank stock was trading in the range of Rs 353.50 to Rs 368.75 so far during the day.
In the past one month, shares of RBL Bank jumped 38.77% to its current market price of Rs 359.90, outperforming the Nifty Private Bank index's 7.27% rise in the same period.
On the technical front, the stock's RSI (relative strength index) stood at 61.846. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was currently trading above its 50-day moving average (DMA) placed at Rs 319.44, but it was below its 200 DMA placed at Rs 512.07.
RBL Bank's net profit dropped 73.4% to Rs 54.31 crore on 42.9% increase in total income to Rs 2,567.68 crore in Q2 September 2019 over Q2 September 2018.
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.
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