RBL Bank540065Banking
Analysts discussed RBL Bank's rally and recent strong numbers, advising caution on near-term bottom fishing
By ScoutQuest · · 1 min read
- Prior stock range
- 320 to 330 rupees
- Recent rally level
- 420 rupees
- Correction levels for contra longs
- 370 to 380 rupees
- Consensus target range
- 410 to 420 rupees
Heard on business television between 09:11:16 - 09:14:16 IST.
- Ruchit Jain said RBL Bank rallied from 320-330 levels to 420 ahead of results, which could lead to unwinding of positions post numbers.
- He advised avoiding bottom fishing for the day, but said corrections to 370-380 would be good levels for contra longs.
- Sameer Dalal said consensus estimates for RBL Bank are in the 410-420 range, with some brokerages holding reduce or sell ratings despite strong current numbers.
- Sameer noted an FCNR component contributed to the results and raised the question of a potential re-rating if performance continues.
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The call above is Ruchit Jain, Motilal Oswal's, reported here as they made it. Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.