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Federal Bank gains after RBI removes restrictions on FII stake

24 Mar 2014 Evaluate

Federal Bank is currently trading at Rs. 93.15, up by 2.00 points or 2.19 % from its previous closing of Rs. 91.15 on the BSE.

The scrip opened at Rs. 92.95 and has touched a high and low of Rs. 95.80 and Rs. 92.00 respectively. So far 447769 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. 91.75 and Rs. 83.90 respectively. The current market cap of the company is Rs. 7962.95 crore.

The Institutions and Non-Institutions held 63.90 % and 33.64 % respectively.

Reserve Bank of India (RBI) has allowed Foreign Institutional Investors (FIIs) to buy shares in Federal Bank as the government approved increasing foreign investment in the Bank from 49% to 74% for paid up equity share capital. The restrictions placed on the purchase of shares of the company are withdrawn with immediate effect.

The aggregate shareholding through FIIs/Non-Resident Indians (NRIs)/Persons of Indian Origin (PIOs)/Foreign Direct Investment (FDI)/American Depository Receipt (ADR)/Global Depository Receipts (GDRs) in Federal Bank has gone below the prescribed threshold ban limit stipulated under the extant FDI policy.

Earlier on August 20, 2013, the RBI had restricted FIIs from purchasing shares in Federal Bank as the overall foreign shareholding in the South-based lender has crossed the limit of 49% of paid-up capital.

Federal Bankhas reported 9.18% rise in its net profit at Rs 230.13 crore for third quarter ended December 31, 2013 as compared to Rs 210.78 crore for the same quarter in the previous year. Total income of the bank has increased by 9.86% at Rs 1895.92 crore for quarter under review as compared to Rs 1725.62 crore for the quarter ended December 31, 2012.

Federal Bank Share Price

298.75 4.50 (1.53%)
21-Apr-2026 10:50 View Price Chart
Peers
Company Name CMP
HDFC Bank 804.25
ICICI Bank 1379.00
Axis Bank 1372.70
Kotak Mahindra Bank 380.95
Indusind Bank 862.25
View more..

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