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Why RBL Bank shares hit 52-week low, Bajaj Fin slip 1% in today's trade?

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Following the development, RBL Bank informed that co-brand cards issued to date will continue to operate as usual without any change
RBL Bank shares hit a 52-week low on December 2, 2024, following a downgrade by brokerage firm Emkay Global Financial Services, which cited concerns over the bank's asset quality and profitability. The downgrade was influenced by a recent RBI order that barred RBL Bank from onboarding new customers onto its co-branded credit card portfolio with Bajaj Finserv. This restriction led to a significant drop in investor confidence, causing the stock to decline by 5.5% to Rs 235.55. Additionally, Bajaj Finance, which has a partnership with RBL Bank, also saw its shares slip by 1% in today's trading session, reflecting the interconnected impact of the regulatory action on both companies. The market's reaction underscores the broader implications of regulatory oversight on financial partnerships and the potential for such actions to affect stock valuations and investor sentiment.

Read the Full Business Standard Article at:
[ https://www.business-standard.com/markets/news/why-rbl-bank-shares-hit-52-week-low-bajaj-fin-slip-1-in-today-s-trade-124120200287_1.html ]