RBL Bank Ltd drops for fifth straight session

RBL Bank Ltd fell for a fifth straight session today. The stock is quoting at Rs 209.75, down 1.16% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.15% on the day, quoting at 24890.1. The Sensex is at 81404.52, up 0.27%.RBL Bank Ltd has eased around 2.97% in last one month.Meanwhile, Nifty Private Bank index of which RBL Bank Ltd is a constituent, has increased around 0.75% in last one month and is currently quoting at 25328.8, up 0.46% on the day. The volume in the stock stood at 48.52 lakh shares today, compared to the daily average of 88.72 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 210, down 1.37% on the day. RBL Bank Ltd tumbled 9.86% in last one year as compared to a 24.47% rally in NIFTY and a 7.51% spurt in the Nifty Private Bank index.

The PE of the stock is 10.3 based on TTM earnings ending June 24.