The private sector bank on Monday reported an 11 percent inflation in its net profit to Rs 1,057 crore in the September quarter as against Rs 954 crore in the same quarter a year ago.
The bank’s share price jumped sharply due to the huge profits and the stock gained 4.84 per cent in Tuesday’s trading session.
Later, the stock rose 7.83 per cent to hit its intraday high of Rs 199.49 per share on NSE. The stock gained momentum after two consecutive days of decline on the exchanges.
A total of 11.50 lakh shares of Federal Bank were traded today. This bank is part of the BSE 100 index and it traded a total of Rs 22.63 crore. According to the BSE website, the market cap of this big company is Rs 48,100.81 crore. The PE of the company’s shares is 11.38 times.
In volume terms, around 3 crore shares of the company were traded on NSE till 10.30 am.
Federal Bank, according to its regulatory filing, reported a upsurge in total income to Rs 7,541 crore for the quarter under review as against Rs 6,186 crore in the same quarter last year. Net interest income (NII) witnessed a growth of 15 percent, rising to Rs 2,367 crore from Rs 2,056 crore in the same quarter last year.
Federal Bank shares rise over 7%, Q2 net profit expansion 11% to Rs 1,057 crore
