RBL BANK SHARE INCREASED &  MAHINDRA INVOLVES

RBL Bank Shares of jumped 5% in Wednesday's trade.

RBL SHARE INCREASED & MAHINDRA INVOLVES By Arun -ESIC CREDIT:PEXELS

The rise came after a media report suggested that the Mahindra Group had acquired a 4% stake in the private bank.

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The report by CNBC TV18 said that the Mahindra Group is keen on raising its stake in RBL Bank to 15-25%.

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The development comes after RBL Bank reported a 43.2% jump in net profit for the June quarter.

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Analysts are largely positive on the stock, with Nirmal Bang Institutional Equities maintaining a "BUY" rating with a target price of Rs 267.

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RBL Bank is a private lender headquartered in Mumbai.

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The bank was founded in 1994.

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RBL Bank has a network of over 600 branches and 2,000 ATMs across India.

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The bank's major shareholders include the Aditya Birla Group, the Government of India, and the Bank of Baroda.

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RBL Bank's stock is listed on the Bombay Stock Exchange and the National Stock Exchange.

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The stock's 52-week high is Rs 267.75 and its 52-week low is Rs 96.50.

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The market capitalization of RBL Bank is around Rs 12,000 crore.

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