Federal Bank Ltd has extended its winning streak, marking its third consecutive session of gains. As of 12:49 IST on the National Stock Exchange (NSE), the stock was trading at Rs 199.83, up by 1.58% on the day.
Market Performance
Despite the broader market indices experiencing a downturn, Federal Bank Ltd has shown resilience. The benchmark NIFTY was down around 0.38% at 24,255.45, while the Sensex stood at 79,293.48, down by 0.45%.
In the last month, Federal Bank Ltd has added around 5.01%, outperforming the Nifty Bank index, which gained 4.41% during the same period. The Nifty Bank index, of which Federal Bank Ltd is a constituent, was quoting at 50,577.95, down 0.86% on the day.
Annual Performance
Over the past year, Federal Bank Ltd has seen significant growth, rising by 53.76%. This surpasses the 24.81% increase in the NIFTY and the 13.73% rise in the Nifty Bank index during the same period.
Recent Corporate Actions
Federal Bank recently allotted 2,64,329 equity shares under the Employee Stock Option Scheme (ESOS) on August 6, 2024. Additionally, the bank received credit ratings from CARE Ratings, with an issuer rating of CARE AA+ and stable outlook for its Tier II Bonds.
The bank's Annual General Meeting (AGM) is scheduled to be held on August 31, 2024.
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