To identify potential winners, we shortlisted companies that got listed in the past five years, excluding those that got listed in the past year. We then sorted the stocks on the basis of their potential upside.
With effect from 21 May 2021RBL Bank announced the appointment of Chandan Sinha (DIN: 06921244) as an Additional (Non-Executive Independent) Director of the Bank, w.e.f. 21 May 2021. The Bank also appointed Manjeev Singh Puri (DIN: 09166794) as an Additional (NonExecutive Independent) Director of the Bank, w.e.f. 21 May 2021.
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This week, benchmark indices rose over 3 per cent led by a resurgence of interest in bank stocks as well as fading concerns among investors over corporate earnings growth, which were triggered by the onset of the second Covid-19 wave.
RBL Bank reported 34.1% drop in net profit to Rs 75.34 crore on 3.6% decline in total income to Rs 2610.83 crore in Q4 FY21 over Q4 FY20.
Net Interest Income (NII) declined by 11% to Rs 906 crore in Q4 FY21 over Q4 FY20. Net Interest Margin (NIM) was at 4.17% as on 31 March 2021 as against 4.93% as on 31 March 2020. Cost to income was 45% in Q4 FY21 as against 50.6% in Q4FY20.
The bank s operating profit grew 17% to Rs 877 crore in Q4 March 2021 from Rs 752 crore in Q4 March 2020.
Provisions and contingencies increased 27.5% to Rs 766.25 crore in Q4 FY21 compared with Rs 601.17 crore in Q4 FY20.
Profit before tax in the fourth quarter stood at Rs 110.28 crore, down 26.9% from Rs 150.76 crore in the same period last year.