Federal Bank hits all-time high ahead of 9 July record date for bonus issue

Federal Bank rose 0.85% to Rs 155.10 at 13:20 IST on BSE ahead of record date of 9 July 2015, for 1:1 bonus issue.

Meanwhile, the BSE Sensex was up 155.34 points, or 0.53%, to 28,094.45.

On BSE, so far 5.12 lakh shares were traded in the counter, compared with an average volume of 2.13 lakh shares in the past one quarter.

The stock hit a high of Rs 159.45, also a record high for the stock. The stock hit low of Rs 154.50 so far during the day. The stock hit a 52-week low of Rs 110.65 on 13 August 2014.

The stock had outperformed the market over the past one month till 2 July 2015, rising 10.65% compared with 2.79% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 15.29% as against Sensex's 1.11% decline.

The large-cap private sector bank has an equity capital of Rs 171.59 crore. Face value per share is Rs 2.

From a recent low of Rs 147.35 on 29 June 2015, shares of Federal Bank rose 4.37% in three sessions to Rs 153.80 on 2 July 2014, triggered by the board of directors of the bank, at its meeting held on 29 June 2015, fixing 9 July 2015, as record date for the purpose of ascertaining the entitlement of the members for 1:1 bonus issue.

Federal Bank reported 1.2% rise in net profit to Rs 280.53 crore on 9.8% rise in total income to Rs 2214.28 crore in Q4 March 2015 over Q4 March 2014.

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