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    Zerodha picks stake in this multibagger smallcap stock

    Synopsis

    HDFC AMC (2.09%), Tata Mutual Fund (2.47%), Nippon Life India (3.95%) ICICI Prudential Life Insurance Company (3.28%), Vanguard (1.02%), Asian Development Bank (2.39%) and other foreign banks also have a stake in RBL Bank.

    Zerodha picks stake in this multibagger smallcap stockiStock
    India's largest brokerage Zerodha bought a 1.26% stake in private lender RBL Bank, which has more than doubled investors' money in the last six months. At the end of the December quarter, Zerodha, owned by the billionaire Kamath brothers, held 75,53,944 equity shares of the smallcap bank.

    The net valuation of Zerodha's holding in the bank is around Rs 137.2 crore from the current market price.

    HDFC AMC (2.09%), Tata Mutual Fund (2.47%), Nippon Life India (3.95%) ICICI Prudential Life Insurance Company (3.28%), Vanguard (1.02%), Asian Development Bank (2.39%) and other foreign banks also have a stake in RBL Bank.

    The stock, trading higher by 0.5% on Wednesday, has given a multibagger return of 109% to investors in the last six months. However, the stock has fallen about 66% in the last five years.

    HDFC AMC (2.09%), Tata Mutual Fund (2.47%), Nippon Life India (3.95%), ICICI Prudential Life Insurance Company (3.28%), Vanguard (1.02%), Asian Development Bank (2.39%) and other foreign banks also have a stake in RBL Bank.

    Apart from RBL Bank, Zerodha also has stakes in Federal Bank, PVR, and BSE.

    In the fiscal year 2022 (FY22), the stock brokerage firm Zerodha’s net profit increased 87% to Rs 2,094.3 crore from Rs 1,122.3 crore in FY21, while operating revenue jumped to Rs 4,963.7 crore from Rs 2,728.9 crore in the same period, according to its audited financial statement filed with the Ministry of Corporate Affairs (MCA).

    Overall income stood at Rs 4,964 crore for FY22. Expenses grew by almost 72% to Rs 2,164 crore in FY22, from Rs 1,260.1 crore in FY21.

    (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)



    ( Originally published on Jan 11, 2023 )
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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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