Federal Bank gains after twin bulk deals

Federal Bank rose 1.03% to Rs 127.15 at 11:54 IST on BSE after 0.23% equity changed hands in two bulk deals on BSE today, 21 July 2014.

A bulk deal of 10 lakh shares was executed on the Federal Bank scrip at Rs 127 per share at 09:55 IST on BSE. Another bulk deal of 9.91 lakh shares was executed on the scrip at Rs 127.25 per share at 11:47 IST on BSE today, 21 July 2014.

Meanwhile, the S&P BSE Sensex was up 112.15 points or 0.44% at 25,753.71

Twin bulk deal boosted volume on the Federal Bank scrip. On BSE, so far 22.65 lakh shares were traded in the counter as against average daily volume of 8.29 lakh shares in the past one quarter.

The stock hit a high of Rs 128.10 and a low of Rs 126.50 so far during the day. The stock had hit a record high of Rs 136 on 30 June 2014. The stock had hit a 52-week low of Rs 44.25 on 4 September 2013.

The stock had underperformed the market over the past one month till 18 July 2014, falling 0.4% compared with Sensex's 1.57% rise. The scrip, however, outperformed the market in past one quarter, advancing 33.39% as against Sensex's 13.31% rise.

The large-cap bank has equity capital of Rs 171.08 crore. Face value per share is Rs 2.

Federal Bank's net profit surged 108.4% to Rs 220.23 crore on 3.2% growth in total income to Rs 1928.04 crore in Q1 June 2014 over Q1 June 2013.

Federal Bank is a leading private sector bank in India.

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