Morgan Stanley Mauritius Company has sold 86.16 lakh shares of Federal Bank through the open market route. The shares were sold on an average price of Rs 60.28, valuing the transaction to Rs 51.94 crore.
Federal Bank has posted a rise of 1.17% in its net profit at Rs 280.53 crore for the quarter ended March 31, 2015 as compared to Rs 277.29 crore for the same quarter in the previous year. Total income of the bank has increased by 9.77% at Rs 2214.28 crore for quarter under review as compared to Rs 2017.12 crore for the quarter ended March 31, 2014.
