RBL Bank shares crashed almost 8% in morning trade on the BSE on Tuesday, 13 October, a day after the bank reported its September quarter earnings. RBL Bank share price opened at ₹401.95 against its previous close of ₹420 and crashed 7.7% to an intraday low of ₹387.85.
RBL Bank Q2 results 2026
On 12 October, the bank said its net profit for Q2FY27 jumped 170% year-on-year (YoY) to ₹482 crore, while operating profit grew 92% YoY to ₹1,396 crore.
Its net interest income (NII) during the quarter grew 37% YoY to ₹2,131 crore, while net interest margin (NIM) stood at 4.61% compared to 4.51% YoY.
Net advances grew 42% YoY to ₹1,42,314 crore, with retail-wholesale mix at 56:44.
Should investors buy, sell, or hold RBL Bank stock?
Brokerage firm Emkay Global Financial Services has maintained a “buy” recommendation on the stock and raised the target price to ₹475 from ₹430 earlier.
Emkay said RBL’s Q2 PAT was below its estimates largely due to higher provisions. However, the bank continues to report accelerated growth driven by broad-based growth along with FCNR B leverage, while its cards portfolio is muted.
Emkay expects margins may moderate in Q3FY27 due to the full-quarter impact of FCNR(B)-led leverage and surplus funds parked in lower-yielding assets, and partly offset by repo rate hike benefits, before recovering gradually in Q4FY27.
Nuvama Wealth Management also retained its buy recommendation on the stock and raised the target price to ₹500 from ₹470 earlier.
Nuvama said it believes the ENBD acquisition and FCNR mobilisation mark a structural turning point, providing a durable funding advantage and scale with better margins.
As per Nuvama, this, coupled with improving asset quality, should push RBL Bank’s RoA and RoE to 1–1.6% and 7–11%, respectively, over FY27–29E, driving further re-rating.
Brokerage firm Nirmal Bang maintained a “hold” recommendation on the stock, raising the target price to ₹445 from ₹386 earlier, valuing the bank at nearly 1.4 times September 2028E adjusted book-value.
Nirmal Bang also expects RBL Bank’s NIM to moderate in Q3FY27 as the full-quarter impact of FCNR-related leverage flows through, before potentially recovering from Q4FY27 as the repo rate hike is transmitted and surplus liquidity is progressively deployed.
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