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Banks (Finance)

RBL Bank Share Price Crashes 24.70% to 52-Week Low on MD CEO's Sudden Leave

Strategic Insights

— 1 min read

The RBL Bank stock witnessed a steep decline of 24.70% to a 52-week low of Rs 130.20 on the National Stock Exchange (NSE) during the morning deals, following the sudden announcement that its long-term MD and CEO, Vishwavir Ahuja, will go on leave with immediate effect. The bank's shares traded as low as Rs 140.80 apiece on the BSE, down Rs 31.70 (18.38%), and Rs 140.50 on the NSE, down Rs 32.40 (18.74%). The bank's board has appointed executive director Rajeev Ahuja as the interim MD and CEO, who assured that the bank and its management have the full support of the RBI.

Key Takeaways:

  • The RBL Bank stock crashed 24.70% to a 52-week low of Rs 130.20 on the NSE, while on the BSE, it declined 23.28% to Rs 132.35.
  • Vishwavir Ahuja, the long-term MD and CEO, will go on leave with immediate effect due to personal reasons.
  • Rajeev Ahuja, the executive director, has been appointed as the interim MD and CEO, who assured that the bank has the full support of the RBI.
  • The RBI appointed Yogesh K Dayal, chief general manager at RBI, as an additional director on the board for a period of two years till December 23, 2023.
  • Over 7.63 crore shares of the private sector lender were traded on the NSE, while around 42.70 lakh shares exchanged hands on the BSE.
  • The bank's board accepted a request from Vishwavir Ahuja to proceed on medical leave with immediate effect.

Statistics:

  • 24.70% decline in RBL Bank stock price to a 52-week low on NSE
  • 23.28% decline in RBL Bank stock price to a 52-week low on BSE
  • Rs 130.20 (52-week low on NSE)
  • Rs 132.35 (52-week low on BSE)
  • 18.38% decline in RBL Bank stock price on BSE
  • 18.74% decline in RBL Bank stock price on NSE
  • 7.63 crore shares traded on NSE
  • 42.70 lakh shares traded on BSE
  • December 23, 2023: RBI-appointee Yogesh K Dayal's tenure as an additional director on the board ends

Sources:

  • "RBL Bank share price crashes 24.70% to 52-week low on MD CEO's sudden leave" by IE Online Media Services Pvt. Ltd., distributed by Contify.com (2021)

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