RBL Bank Share Price Today : The bank’s short term sentiment has now turned positive after US retirement fund College Retirement Equity Fund bought stake in RBL Bank. For this reason, there has been a lot of boom in the stock market. The stock closed at Rs 129.75 on August 25.
stock went like a rocket
The stock of RBL Bank made an intraday high of Rs 132.75 on Thursday, i.e. increased by more than 7 percent today compared to yesterday. In this way, this stock has come up more than 25 percent in 3 days. After all, what has happened in RBL Bank that its shares have become rockets.
keep these things in mind
Market experts say that “Banking stocks have suddenly risen after the news of American retirement fund College Retirement Equity Fund buying stake in banking stocks. People are trying to cut their short positions at any level. In this the investor should wait.
Buy on breakout of 130
Let us tell you that the share of RBL should be bought only above ₹ 130. The 200 day moving average of RBL Bank stock is at ₹130. Hence, it should be bought only if it gives a breakout above the ₹130 level.
Preparing to raise Rs 3,000 crore
In fact, the board of RBL Bank has approved raising up to Rs 3,000 crore for the growth of the lender’s business. Fund raising is subject to the approval of the shareholders. This means that the approval of the shareholders is necessary. The board of the bank has also approved the appointment of two independent directors.
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