RBL Bank shares rise after Investec initiates coverage
pre-market1 source ↓written by the desknot a recommendation
- to ₹311.95
- 2.75%
- target price
- ₹430
- from a recent
- $1.5 billion
Shares of RBL Bank rose 2.75% to ₹311.95 after Investec initiated coverage with a Buy rating and target price of ₹430. The brokerage's positive outlook follows discussions with management, highlighting a strengthening balance sheet and plans to deploy $1.5 billion from a recent capital infusion to reduce high-cost liabilities. This could lead to potential credit rating upgrades, enhancing profitability.
Not investment advice. For informational purposes only.