Bandhan Bank is currently experiencing a pronounced downtrend, with indications pointing towards a potential bottoming out near the Covid lows in the range of Rs 180-160 per share.
Bank stocks: Kranthi Bathini, Director of Equity Strategy at WealthMills Securities said that since the weightage of HDFC Bank in key indices is high, it is creating pressure on both futures and options market as well as cash market.
RBL Bank, a media report said, was looking to clean up its books after a change of guard at the private lender. This is after the bank lost more than half in its market capitalisation over the past five years, the report added.
In the case of RBL Bank, the RBI gave approval to ICICI Prudential Life Insurance Co Ltd, along with ICICI Prudential AMC. RBL Bank informed stock exchanges about the RBI grant in a filing post market hours of Thursday.