Federal Bank gains after large bulk deal

Federal Bank rose 3.66% to Rs 75.10 at 11:42 IST on BSE after a large bulk deal of 69.18 lakh shares was executed on the scrip at Rs 73.25 per share in opening trade on BSE.

Meanwhile, the S&P BSE Sensex was up 11.32 points or 0.04% at 28,235.02

Bulk deal boosted volume on the scrip. On BSE, so far 83.26 lakh shares were traded in the counter as against average daily volume of 9.22 lakh shares in the past one quarter. The stock hit a high of Rs 75.75 and a low of Rs 72.50 so far during the day. The stock had hit a 52-week high of Rs 76.15 on 7 September 2016. The stock had hit a 52-week low of Rs 41.35 on 12 February 2016. The stock had outperformed the market over the past 30 days till 27 September 2016, rising 8.05% compared with 1.15% rise in the Sensex. The scrip also outperformed the market in past one quarter, gaining 28.8% as against Sensex's 5.55% rise.

The large-cap private-sector bank has equity capital of Rs 344.10 crore. Face value per share is Rs 2.

Federal Bank's net profit rose 18.33% to Rs 167.31 crore on 6.82% rise in total income to Rs 2250.81 crore in Q1 June 2016 over Q1 June 2015.

Federal Bank is one of the leading private sector banks in India.

Powered by Capital Market - Live News