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Federal Bank gains on entering into partnership with Ripple

29 Mar 2019 Evaluate

The Federal Bank is currently trading at Rs. 94.10, up by 0.55 points or 0.59% from its previous closing of Rs. 93.55 on the BSE.

The scrip opened at Rs. 94.10 and has touched a high and low of Rs. 95.20 and Rs. 93.80 respectively.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 105.00 on 09-May-2018 and a 52 week low of Rs. 67.05 on 05-Oct-2018.

Last one week high and low of the scrip stood at Rs. 95.20 and Rs. 88.45 respectively. The current market cap of the company is Rs. 18570.14 crore.

The Institutions holding in the company stood at 67.28%, while Non-Institutions held at 32.72% stake in the company.

Federal Bank has entered into a partnership with Ripple Inc., a blockchain supported global remittance company, for cross border remittance through its network. Powered by blockchain-enabled solution, the Ripple platform ensures cross-border transactions much safer and secured. This partnership will help Federal Bank to explore new corridors where Ripple is aggressively pursuing new partnerships.

Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.

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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