Federal Bank gains ahead of board meeting for setting record date for stock-split

Federal Bank rose 1.41% to Rs 301.20 at 14:46 IST on BSE after the bank said that the Investment and Capital Raising Committee of the bank's board proposes to meet on 14 September 2013 to consider the record date for 5-for-1 stock split.

The announcement was made after market hours on Thursday, 12 September 2013.

Meanwhile, the S&P BSE Sensex was down 40.98 points or 0.21% at 19,740.90.

On BSE, 47,000 shares were traded in the counter as against average daily volume of 64,753 shares in the past one quarter.

The stock hit a high of Rs 305 and a low of Rs 292.40 so far during the day. The stock had hit a 52-week low of Rs 221.25 on 4 September 2013. The stock had hit a record high of Rs 550.75 on 2 January 2013.

The stock had underperformed the market over the past one month till 12 September 2013, sliding 10.14% compared with the Sensex's 4.41% rise. The scrip had also underperformed the market in past one quarter, declining 29.64% as against Sensex's 3.89% rise.

The mid-cap private sector bank has equity capital of Rs 171.07 crore. Face value per share is Rs 10.

Federal Bank's net profit declined 44.5% to Rs 105.66 crore on 12.5% growth in total income to Rs 1869.05 crore in Q1 June 2013 over Q1 June 2012.

Federal Bank's total branch network stood at 1103 branches as on 31 March 2013. The bank had 1,187 ATMs as at 31 March 2013.

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