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Federal Bank rises on getting nod for Rs 148 crore capital investment into subsidiary

The Federal Bank is currently trading at Rs. 84.80, up by 0.45 points or 0.53% from its previous closing of Rs. 84.35 on the BSE.

The scrip opened at Rs. 84.50 and has touched a high and low of Rs. 85.40 and Rs. 83.50 respectively. So far 542100 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 92.40 on 04-Mar-2021 and a 52 week low of Rs. 36.85 on 22-May-2020.

Last one week high and low of the scrip stood at Rs. 86.40 and Rs. 77.65 respectively. The current market cap of the company is Rs. 16818.57 crore.

The Institutions and Non-Institutions holding in the bank stood at 67.80% and 32.20% respectively.

Federal Bank’s board has cleared Rs 148 crore-capital investment into subsidiary Fedbank Financial Services (FFSL) through a rights issue. FFSL is a non-deposit-taking systemically important NBFC, which was set up in 1995 by the bank.

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.

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