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Federal Bank trades higher on the bourses

04 Mar 2015 Evaluate

Federal Bank is currently trading at Rs. 152.15, up by 1.40 points or 0.93% from its previous closing of Rs. 150.75 on the BSE.

The scrip opened at Rs. 153.10 and has touched a high and low of Rs. 154.20 and Rs. 150.25 respectively. So far 111336 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 154.20 on 04-Mar-2015 and a 52 week low of Rs. 76.40 on 03-Mar-2014.

Last one week high and low of the scrip stood at Rs. 154.20 and Rs. 138.00 respectively. The current market cap of the company is Rs. 12991.74 crore.

The institutions and non-institutions held 67.13% and 30.87% stake in the bank, respectively.

Federal Bank, Kerala based private sector bank has reportedly introduced ‘Apna Gold Loan’ facility for its consumers. Under this scheme, Customers can deposit gold coins (up to 50 gm) and jewellery with the bank, just like putting it in a bank locker. Once the gold jewellery is deposited, the bank will appraise it and give a list of inventory. The bank will sanction an overdraft in the savings account of the customer equivalent to 75 per cent of the value of gold deposited. If a customer uses the overdraft then he has to repay it within one year and pay interest only for the period the money is used.

The bank offers the Apna Gold loan across its 1,200 branches and intends to focus on Maharashtra, Gujarat, Tamil Nadu, Karnataka and Punjab. The lending rate on Apna Gold loan is 12-14 percent a year against 32 percent charged on credit card cash withdrawals.

The bank’s net profit for the quarter ended December 31, 2014, rose by 15.01% at Rs 264.69 crore as compared to Rs 230.13 crore for the quarter ended December 31, 2013. The bank’s total Income has increased by 10.24% to Rs 2090.01 crore for the quarter under review from Rs 1895.92 crore for the corresponding quarter of the previous year.

Federal Bank Share Price

297.30 0.20 (0.07%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 781.20
ICICI Bank 1264.80
Axis Bank 1269.40
Kotak Mahindra Bank 380.75
Indusind Bank 949.85
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