Federal Bank rises on the buzz of tying up with Kerala Tourism Department

27 Dec 2013 Evaluate

The Federal Bank is currently trading at Rs. 84.35, up by 0.30 points or 0.36% from its previous closing of Rs. 84.05 on the BSE.

The scrip opened at Rs. 84.55 and has touched a high and low of Rs. 85.20 and Rs. 83.50 respectively. So far 62304 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 110.15 on 02-Jan-2013 and a 52 week low of Rs. 44.25 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 85.95 and Rs. 78.15 respectively. The current market cap of the company is Rs. 7184.62 crore.

The institutions and non-institutions held 64.71% and 32.83% stake in the bank, respectively.

Federal Bank, Kerala based private sector bank, has reportedly entered into a tie up with Kerala Tourism Department as title sponsors for the Grand Kerala Shopping Festival 2013. The bank is coming with a host of offers such as double and triple reward points for everyone shopping with Federal Bank debit cards. The bank gift card worth Rs 5,000 would be given to top two spenders every day.

Federal Bank has reported rise of 4.98% in its net profit at Rs 225.81 crore for the second quarter ended September 30, 2013 as compared to Rs 215.10 crore for the same quarter in the previous year. Total income from operation of the bank has increased by 11.58% at Rs 1857.84 crore for quarter under review as compared to Rs 1665.04 crore for the quarter ended September 30, 2012.

 

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