Federal Bank rises on entering into tie-up with Atul Auto for dealer financing arrangement

The Federal Bank Ltd. | Bank - Private | BFSI | BSE: 500469 | NSE: FEDERALBNK

27 Aug 2015 Evaluate

Federal Bank is currently trading at Rs 61.15, up by 0.55 points or 0.91% from its previous closing of Rs. 60.60 on the BSE.

The scrip opened at Rs 62.00 and has touched a high and low of Rs. 62.10 and Rs 61.15 respectively. So far 1104216 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs 79.73 on 03-Jul-2015 and a 52 week low of Rs. 59.05 on 27-Aug-2014.

Last one week high and low of the scrip stood at Rs. 68.00 and Rs 59.50 respectively. The current market cap of the company is Rs. 10552.17 crore.

The Institutions and Non-Institutions held 68.36% and 29.77% respectively.

Federal Bank has entered into a tie-up arrangement with Atul Auto (AAL), a Rajkot-based leading manufacturer of 3-Wheeler commercial and passenger vehicles, for a dealer financing arrangement. Under this arrangement, the bank will finance 100% of the invoice amount with NIL margin to registered dealers of AAL for purchases made from the company.

This tie-up is aimed at benefiting all the 200-plus dealers of AAL spread across India. The bank has dealer financing arrangements in place with leading brands like Tata Motors, Mahindra & Mahindra and Ashok Leyland.

The bank has reported 35.80% fall in its net profit at Rs 141.39 crore for first quarter ended June 30, 2015 as compared to Rs 220.23 crore for the same quarter in the previous year. However, total income of the bank has increased by 9.29% at Rs 2107.09 crore for quarter under review as compared to Rs 1928.04 crore for the quarter ended June 30, 2014.

The bank’s gross NPA for the April-June quarter of the current fiscal stood at 2.59%, as compared to 2.22% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 0.98% in Q1FY16.

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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