RBL Bank stock rises nearly 4 pc ahead of board meeting

Shares of RBL Bank on Thursday continued to rise for a second consecutive session ahead of its board meeting to consider fundraising. The stock opened at Rs 370 and gained 3.63 percent to close at Rs 381 on the BSE. It hit an intra-day high of Rs 391.05, up 6.36 percent.

On the NSE, the stock settled 3.66 percent up at Rs 381. During the day, it traded 6.43 percent higher at Rs 391.20. Over 19 lakh shares of the company were traded on the BSE, while NSE saw a trade of over 3 crore shares.

The stock has gained 9.65 percent since Wednesday after the company announced that a board meeting will be held on Saturday to consider fundraising by the issue of equity shares on a preferential basis. "A meeting of the board of directors of the bank is proposed to be held on Saturday, November 30, 2019, to inter alia consider and if thought fit to approve: raising of funds by way of issue of equity shares of the bank on a preferential basis," the lender said in a regulatory filing on Wednesday.

The bank's stock had settled 5.8 percent up on Wednesday after the announcement.