Bandhan Bank jumps 5% after RBI lifts regulatory restriction
The share touched its 52-week high Rs 650 and 52-week low Rs 402.20 on 29 October, 2019 and 25 February, 2020, respectively.
February 26, 2020 / 10:06 AM IST
Bandhan Bank share price added 5 percent in the early trade on February 26 after the Reserve Bank of India (RBI) allowed the company to expand its branch network.
Though the bank is still not in compliance with the licensing condition on dilution, considering the efforts made by the bank to comply with the said licensing condition, it has lifted the regulatory restriction on branch opening, as per press release.
However, it is subject to the condition that the bank ensures that at least 25 percent of the total number of 'Banking Outlets' opened during a financial year are opened in unbanked rural centres.
At 09:36 hrs Bandhan Bank was quoting at Rs 411.55, up Rs 7.70, or 1.91 percent on the BSE.
The share touched its 52-week high of Rs 650 and 52-week low of Rs 402.20 on 29 October, 2019 and 25 February, 2020, respectively.
Currently, it is trading 36.68 percent below its 52-week high and 2.32 percent above its 52-week low.