Societe Generale buys stake worth Rs 79 crore in RBL Bank via bulk deal

French multinational bank Societe Generale on Thursday bought over 31 lakh shares worth Rs 79 crore in RBL Bank via bulk deals. The shares were bought at a price of Rs 250.57 apiece which was a 2% discount over the Tuesday closing price.

Shares of RBL Bank today ended at Rs 253 on the NSE, declining by Rs 2.40 or 0.94% amid weak market sentiments. Indian headline indices ended with sharp cuts on Thursday as US tariffs and monthly expiry weighed on the markets. The sell-off was seen across the board while more prominent in banks, IT and FMCG stocks. While Nifty fell 211.15 points or 0.85% to close at 24,500.90, the 30-stock S&P BSE Sensex finished at 80,080.57, declining by 705.97 points or 0.87%.

RBL Bank witnessed a couple of bulk deals today. In one, Societe Generale bought over 32.78 lakh shares while in the other, it sold over 1.29 lakh shares at a price of Rs 251.19 per share. On the net basis, it remained a buyer.

RBL shares have delivered returns of 12% in the past 12 months outperforming Nifty and Sensex, which have slid nearly 2%, each. The stock has been in top form this year, rallying 60% on the year-to-date basis.

RBL Bank shares are currently trading above their 200-day simple moving average of Rs 1,867.4 while slipping below the 50-day SMA of Rs 1,986.1 according to Trendlyne data. The stock has traded with high volatility with 1-year beta of 1.2.

The private sector lender had reported a standalone net profit of Rs 200.33 crore for the first quarter ended June 2025, a 46% year-over-year decline compared to a profit of Rs 371.52 crore in corresponding quarter of last year, as weaker interest income and rising expenses weighed on its performance.RBL Bank said its Net Interest Income (NII) fell 13% YoY to Rs 1,481 crore from Rs 1,700 crore a year ago, and declined 5% sequentially compared to Rs 1,563 crore in the March 2025 quarter. The bank’s net interest margin (NIM) for Q1 FY26 stood at 4.50%.Operating profit declined 18% YoY to Rs 703 crore, with the bank attributing the contraction to a reduction in unsecured lending and the impact of the recent repo rate cut. Meanwhile, operating expenses rose 12% YoY to Rs 1,847 crore, compared to Rs 1,646 crore in Q1 FY25.

Also Read: Bulk deals buzz: Eternal nets Rs 3,220 crore buying, Swiggy sees sell action by BNP, Societe Generale

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)