FEDERALBNK.NSE Federal Bank Ltd.
3,210
147.20
1.20
(0.82%)
| Watchers | 3,210 |
| 52-Wk Low | 115.90 |
| 52-Wk High | 151.50 |
| Market Cap | 345.77B |
| Volume (M) | 8.84M |
| 52-Wk High | 151.50 |
| 52-Wk Low | 115.90 |
Federal Bank allots 5.48 lakh equity shares under ESOS Capital Market • 30 days ago
Federal Bank has allotted 5,48,029 equity shares under ESOS on 01 September 2023.
Share to Feed
Federal Bank Ltd is up for a third straight session today. The stock is quoting at Rs 140.1, up 2.98% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.3% on the day, quoting at 19454.6. The Sensex is at 65409.88, up 0.29%. Federal Bank Ltd has gained around 4.59% in last one month. Meanwhile, Nifty Bank index of which Federal Bank Ltd is a constituent, has gained around 3.35% in last one month and is currently quoting at 43993.25, up 0.89% on the day. The volume in the stock stood at 154.3 lakh shares today, compared to the daily average of 139.1 lakh shares in last one month. The benchmark August futures contract for the stock is quoting at Rs 140.75, up 3.08% on the day. Federal Bank Ltd is up 22.89% in last one year as compared to a 10.51% jump in NIFTY and a 13.69% jump in the Nifty Bank index.The PE of the stock is 9.79 based on TTM earnings ending June 23.
Federal Bank has allotted 103,769 equity shares under ESOS on 21 August 2023.
A section of analysts predict that the banking sector will experience a reduction in net profit margins in FY24.
The trend is definitely positive, but considering the one-way rally of last several sessions, the possibility of some profit taking can't be ruled out in near term before we are getting into next leg of upmove, experts said.
The bank had fixed the floor price at Rs 132.59 per share, which marked a discount of around 2 percent against July 19’s closing price of Rs 135.70.
The floor price, at Rs 132.59 apiece, marks a discount of around 2 percent against July 19’s closing price of Rs 135.70
The floor price, at Rs 132.59 apiece, marks a discount of around two percent as against the current market price. The bank said it may offer a discount of "not more than five percent on the floor price so calculated for the issue".
The bank reported a net profit of Rs 854 crore for the April-June 2023 quarter, a jump from Rs 600 crore in the corresponding period last year.
LKP Research is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 160 in its research report dated July 16, 2023.