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Federal Bank rises on partnering with SMTJ to facilitate instant money transfer

Federal Bank is currently trading at Rs. 88.10, up by 0.35 points or 0.40% from its previous closing of Rs. 87.75 on the BSE.

The scrip opened at Rs. 87.55 and has touched a high and low of Rs. 89.20 and Rs. 85.40 respectively. So far 725944 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 110.35 on 03-Jul-2019 and a 52 week low of Rs. 67.05 on 04-Oct-2018.

Last one week high and low of the scrip stood at Rs. 95.50 and Rs. 80.70 respectively. The current market cap of the company is Rs. 17555.10 crore.

The Institutions and Non-Institutions held 67.97% and 32.03%, stake in the company, respectively.

Federal Bank has entered a tie-up with Speed Money Transfer Japan KK (SMTJ), a leading financial services company, to facilitate instant money transfer from Japan to India. The customers can send money to India using the mobile app or by visiting any of the branches of Speed Money Transfer Japan KK in Tokyo, Roppongi and Nagoya.

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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