“We need more clarity on the timing and quantum of capital, and also the movement in their stress book,” Citigroup analyst Manish Shukla wrote in a note.
Some said the weakness in the stock got accentuated due to the overhang of pledged shares. On a year-to-date basis, the stock is down 76 per cent.
"The selling of pledged shares is done and loan book has de-grown on a quarter-on-quarter basis, to conserve capital. Capital raising is crucial for the bank, which, if done, will be a key positive for the bank,” said Anusha Raheja, analyst at LKP Securities.