India's RBL Bank drops after tax authorities search offices

RBL Bank

04/03/2025 04:12

** Shares of RBL Bank RATB.NS fall 2.1% to 152 rupees

** Shares on track for third straight day of losses, if trend sustains

** Indian tax authorities initiate search at lender's three offices in Maharashtra

** Stock trading below key 50-, 100-, 200- daily moving avgs

** Analysts' avg rating on stock is "hold" vs "buy" on peers AU Small Finance Bank AUFI.NS and Bandhan Bank BANH.NS; median PT on RATB is 170 rupees - data compiled by LSEG

** Stock down ~4% so far this year, continuing a 43% decline from 2024

 (Reporting by Aleef Jahan in Bengaluru)

 ((aleefjahan.cs@thomsonreuters.com))