Federal Bank surges on tying-up with BMRCL to offer flash combo card

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

18 Mar 2014 Evaluate

Federal Bank is currently trading at Rs. 84.70, up by 1.30 points or 1.56% from its previous closing of Rs. 83.40 on the BSE.

The scrip opened at Rs. 85.00 and has touched a high and low of Rs. 85.10 and Rs. 84.05 respectively. So far 18553 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 99.98 on 03-Apr-2013 and a 52 week low of Rs. 44.25 on 04-Sep-2013.

Last one week high and low of the scrip stood at Rs. 88.40 and Rs. 81.50 respectively. The current market cap of the company is Rs. 7231.66 crore.

The institutions and non-institutions held 63.90% and 33.64% stake in the bank, respectively.

Federal Bank has entered into a tie-up with the Bangalore Metro Rail Corporation (BMRCL) to offer Namma Metro passengers a flash combo card which will enable them to shop and travel using the same card. The Federal Bank Transit-cum-Debit Card will offer discounts ranging from 15% to 21% on fares, making the journey cheaper for those travelling daily.

The flash cards will be available at all Metro stations throughout the Sampige Road to Peenya Industry stretch and all through the 1,135 branches of the Bank across the country. The customers will also be able to recharge their transit cards at the bank’s ATM in select stations, through SMS, Federal Bank’s internet banking - FedNet and in Metro stations.

The contract between BMRCL and Federal Bank is for a period of five years. Besides, the bank will also put point of sale terminals to accept debit/credit card payments at all the ticket vending counters in the 13 stations of the Metro which stretches from Sampige Road to Nagasandra.

Federal Bank Share Price

293.10 0.55 (0.19%)

06-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
HDFC Bank	796.60
ICICI Bank	1279.45
Axis Bank	1296.10
Kotak Mahindra Bank	376.20
Indusind Bank	946.50
View more..

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