Federal Bank vaults after large bulk deal

Federal Bank gained 3% to Rs 114.95 at 12:46 IST on BSE after a large bulk deal of 47.80 lakh shares was executed on the scrip at Rs 114.75 per share at 12:05 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 199.72 points, or 0.58% to 34,353.57.

Bulk deal boosted volume on the scrip. On the BSE, 53.22 lakh shares were traded in the counter so far, compared with average daily volumes of 7.93 lakh shares in the past one quarter. The stock had hit a high of Rs 115.40 and a low of Rs 112.50 so far during the day. The stock had hit a record high of Rs 127.75 on 17 October 2017. The stock had hit a 52-week low of Rs 65.80 on 5 January 2017.

The large-cap bank has equity capital of Rs 393.27 crore. Face value per share is Rs 2.

Federal Bank's net profit rose 31% to Rs 263.70 crore on 14% rise in total income to Rs 2666.82 crore in Q2 September 2017 over Q2 September 2016.

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

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