 "Federal Bank gains on bonus issue plan")
Shares of Federal Bank were trading higher by 3% at Rs 135 in early morning trades on the NSE after the private sector lender announced a bonus issue plan.
“The board of directors of the bank will be held on May 16, 2015, to consider the issue of bonus shares to the shareholders of the bank, subject to the approval of the shareholders at the Annual! General Meeting,” Federal Bank said in a statement.
Earlier, in 2004, Federal Bank issued bonus shares in the ratio of 2:1 i.e. two bonus shares for every one held.
The stock opened at Rs 135 and hit a high of Rs 137 on the NSE. A combined 521,334 shares changed hands on the counter till 0920 hours on the NSE and BSE.
“The board of directors of the bank will be held on May 16, 2015, to consider the issue of bonus shares to the shareholders of the bank, subject to the approval of the shareholders at the Annual! General Meeting,” Federal Bank said in a statement.
Earlier, in 2004, Federal Bank issued bonus shares in the ratio of 2:1 i.e. two bonus shares for every one held.
The stock opened at Rs 135 and hit a high of Rs 137 on the NSE. A combined 521,334 shares changed hands on the counter till 0920 hours on the NSE and BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%