Bank of Maharashtra saw FPIs buying 2.57 per cent addition stake, while MFs also lapping up an additional 4.15 per cent stake. BoM's Q3 profit was 9 per cent above Systematix's estimates.
ICICI Securities said while RBL Bank is confident of sequential growth revival, it flagged elevated card slippages likely persisting for the next two quarters.
An analyst from YES Securities said that Bearish momentum in Jio Financial is strengthening. The stock remains below all major moving averages, and a recent rebound failed decisively.
Data available for 92 BSE500 companies showed that FPIs increased or retained stakes in only 38 companies during the quarter. FPIs sold equities worth Rs 22,611 crore in December.
An analyst from Arihant Capital Markets said that YES Bank is maintaining the lower top lower bottom formation which is a sign of weakness with the stock having taken support at the 150-days SMA.
RBL Bank is looking to function as a subsidiary of Emirates NBD while remaining listed, and the management is optimistic about securing all required approvals, ICICI Securities.
RBL Bank shares ended the previous session 1.96% lower at ₹322.3 apiece. The stock has seen a significant rally, gaining 16.9% over the past month, 63.5% in the last six months.
YES Bankand RBL Bank would benefit from the foreign bank ownership, Emkay said. This would bring new business opportunities in corporate banking (especially SME) and some edge in retail deposits, it added.
The lender was in advanced talks with Zerodha to open bank accounts for its 160 million broking clients, said a report.
Recent investments: Warburg Pincus and ADIA in IDFC First Bank; Emirates NBD’s proposed majority investment in RBL Bank, SMBC in YES Bank, Fairfax in CSB Bank, DBS bank merger with Lakshmi Vilas Bank.
RBL Bank: Under SEBI guidelines, the open offer can be completed first, and the preferential issue (and open offer) will be proportionately adjusted to ensure minimum public shareholding remains at 25 per cent.
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