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Federal Bank plunges after LIC sold 2.02% stake in the bank for Rs 170 crore

20 Mar 2013 Evaluate

Federal Bank is currently trading at Rs. 479.30, down by 8.00 points or 1.64% from its previous closing of Rs. 487.30 on the BSE.

The scrip opened at Rs. 484.00 and has touched a high and low of Rs. 485.10 and Rs. 477.00 respectively. So far 16357 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 550.75 on 02-Jan-2013 and a 52 week low of Rs. 335.00 on 25-Apr-2012.

Last one week high and low of the scrip stood at Rs. 496.50 and Rs. 479.05 respectively. The current market cap of the company is Rs. 8190.16 crore.

The Institutions holding in the company stood at 66.95%while Non-Institutions held 30.94% respectively.

The country’s largest insurer, Life Insurance Corporation (LIC) has sold 2.02% stake in Federal Bank, a Kerala-based private sector bank for about 170 crore. LIC has sold 34.71 lakh shares comprising 2.02% of the bank on March 15, 2013 through an open market transaction.

Pursuant to the stake sale, LIC shareholding in the bank has come down to 3%. In February 2010, LIC had picked up stake in the bank.

Federal Bank is the fourth largest bank in India in terms of capital base and can easily boast of a Capital Adequacy Ratio of 17.23%, one of the highest in the industry. This along with the existence in a highly regulated environment has helped the bank to tide over the recession with minimum impact to its financial stability.

Federal Bank Share Price

295.60 1.35 (0.46%)
21-Apr-2026 16:59 View Price Chart
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