Federal Bank up on merger talk

The Federal Bank scrip rose 3.17 per cent to Rs 253.85 on kick-starting merger with Catholic Syrian Bank (CSB). Federal Bank started the process of financial due diligence entrusting the job to KPMG. The entire process is expected to take at least a month with details on swap ratio coming later also.

The stock made an intraday high of Rs 259 and a low of Rs 245.1. Total traded volumes stood at 1.5 lakh shares. The stock has a 52-week high of Rs 269 and a low of Rs 110.5.