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Bank Profits Surge, Yet Shares Tumble!
13 Oct
Summary
- RBL Bank's profit rose 170% year-on-year to Rs 482 crore.
- Plastiblends India saw a 43.3% profit jump, but shares fell.
- Karur Vysya Bank agreement boosts distribution of insurance products.
Dalal Street experienced significant stock-specific action on October 13, 2026, as investors reacted to corporate news and quarterly earnings reports. RBL Bank's standalone profit saw a remarkable 170 percent year-on-year surge, reaching Rs 482 crore, with net interest income climbing 37 percent to Rs 2,131 crore. Despite these strong financial results, RBL Bank shares declined by 6 percent.
Meanwhile, Plastiblends India reported a 43.3 percent year-on-year increase in profit to Rs 10.65 crore on revenue growth of 18.8 percent to Rs 228.8 crore. However, the company's shares experienced a 7 percent plunge. Conversely, Karur Vysya Bank shares saw a modest rise of 1.3 percent after securing an agreement with Zurich Kotak General Insurance Company to distribute its general insurance products.
Broader market indices lagged behind, with the Nifty Midcap index falling 0.7 percent and the smallcap index down nearly 1 percent. The IT sector was a strong performer, gaining 2.5 percent, with support also seen in PSU banks, private banks, realty, auto, FMCG, and metal stocks. Energy, media, and pharma sectors faced selling pressure. Several prominent stocks, including Max Healthcare and Reliance Industries, touched their 52-week lows, and market breadth on the BSE remained negative.
