Federal Bank slips after large bulk deal

Federal Bank fell 0.52% to Rs 114.60 at 14:49 IST on BSE after a large bulk deal of 50.19 lakh shares was executed on the scrip at Rs 115 per share at 13:43 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 120.89 points or 0.37% at 32,454.28

Bulk deal boosted volume on the scrip. On the BSE, 59.86 lakh shares were traded on the counter so far as against the average daily volumes of 11.43 lakh shares in the past one quarter. The stock had hit a high of Rs 115.55 and a low of Rs 114.15 so far during the day. The stock had hit a record high of Rs 122.40 on 16 June 2017 and a 52-week low of Rs 61.50 on 4 August 2016.

The stock had underperformed the market over the past one month till 1 August 2017, rising 2.67% compared with 4.34% rise in the Sensex. The scrip also underperformed the market in past one quarter, rising 2.77% as against Sensex's 8.97% rise. The scrip had, however, outperformed the market in past one year, surging 81.85% as against Sensex's 16.42% rise.

The large-cap bank has equity capital of Rs 388.81 crore. Face value per share is Rs 2.

Federal Bank's net profit rose 25.61% to Rs 210.15 crore on 17.2% growth in total income to Rs 2653.19 crore in Q1 June 2017 over Q1 June 2016.

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

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