RBL becomes the most expensive banking stock at Rs 599
DSIJ Intelligence / 12 Apr 2017
Recording a gain of more than 70 per cent for its debut year, Kolhapur-based RBL Bank became the most expensive banking stock in India, touching a high of Rs 599.40 on April 11, 2017.
Recording a gain of more than 70 per cent for its debut year, Kolhapur-based RBL Bank became the most expensive banking stock in India, touching a high of Rs 599.40 on April 11, 2017, commanding a forward price-to-book value (PBV) of 4.3x and price-to-earnings (PE) ratio of 73.64x.
The RBL Bank stock is trading expensive as compared to its peers such as Kotak Mahindra Bank, HDFC Bank and IndusInd Bank having forward PBVs in the range of 3.6x and 3.8x. Furthermore, the bank has a TTM PE of 73.64x, which is much more in comparison to its peer set, including Kotak Mahindra Bank (51.79x), HDFC Bank (26.47x) and IndusInd Bank (31.13x), while the industry TTM PE stood at 26.18x.
The bank has maintained a strong growth rate since its listing, while the stock price has doubled in the past seven months. Moreover, the stock has also outperformed the market cap-to-loan book or market cap per branch ratios.
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