The banking stock RBL BANK gained 15% on 24th August 2022 after its board of directors approved the issue of debt securities on a private placement basis up to ₹3,000 crore for funding of its expansion plans on 23rd August 2022. This fundraising will be subject to the approval from the shareholders during their AGM. The gap created on 13th June 2022 has been filled.

The stock had risen by 6% on 23rd August 2022. The market reacted decisively to the fundraising news. The stock was up 15% on 24th August 2022 and it hit the upper circuit of Rs 119.70. The upper circuit was later released but this caused the Call Options of the stock to soar tremendously.

RBL Bank Stock and Call Options data

Overall, the stock has risen by 6.28% in the past 5 days and by 9.58% in the last month. However, it’s down by over 25.13% in the past 6 months and 21.69% in the year-to-date period. The stock has declined 34.13% in the last year. It touched a 52-week low of Rs 74.15 on June 20, 2022, and a 52-week high of Rs 221.20 on November 10, 2021.

Over 22.83 lakh shares exchanged hands on the counter on 23rd August, as compared to the two-week average quantity of 9.12 lakh. The volumes of shares traded on 24th August 2022 have surpassed the 9 crore mark. RBL Bank’s current market cap stands at Rs 7176 crore.

Candlestick Chart on Daily timeframe in Sharekhan’s TradeTiger

RBL Bank board has decided to issue and allot 1,75,00,000 additional equity stock options exercisable into the equivalent number of equity shares fully paid up of ₹10 each, in addition to remaining options, which remain ungranted under ESOP 2018 as earlier approved by the board.

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