Top brokerage calls on RBL Bank: CLSA, Investec and more

SUMMARY

Investec has placed its recommendation for RBL Bank 'under review' from 'buy' while ICICI Securities has downgraded its rating on the banking stock to 'sell'. Here are the top brokerage calls for today:

By CNBCTV18.comDec 27, 2021 8:28:28 AM IST (Published)

CLSA on RBL Bank | In a surprise move, the RBI appointed an additional director to RBL Bank's board which CLSA expects will lead to uncertainty in the near term. CLSA has maintained its 'outperform' rating on the lender's stock.

ICICI Securities on RBL Bank | This interim adverse development can drag RBL Bank's valuation to as low as 0.55 times FY23 book, ICICI Securities said. The brokerage has downgraded its rating on the banking stock to 'sell'.

Investec on RBL Bank | Investec has placed its recommendation for RBL Bank 'under review' from 'buy' and will update post Q3 earnings. The recent development is clearly a negative outcome from investor confidence perspective, the brokerage said.