Wednesday, 12 April 2017


On the back of a more than 70% gain so far this year, Kolhapur-based RBL Bank which made its market debut last year, has turned into the most expensive banking stock. On Tuesday , the stock touched a new high of `599.40, in turn commanding a forward price-to-book (PBV) multiple of 4.3 times. Some of the most sought after bank stocks, including Kotak Mahindra Bank, HDFC BankBSE 0.07 % and IndusInd BankBSE -0.18 %, currently trade at forward PBVs of 3.6 to 3.8. 

A turnaround in its operating and financial metrics in the past six years has added to the popularity of RBL Bank since the time of its listing. While the bank has maintained its strong growth numbers post listing as well as being on track to meet targets it set out under its “Vision 2020“ strategy , the recent run-up in the stock appears somewhat stretched. 

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