Federal Bank shares rose over 7% on October 30 after the bank posted an 11% increase in Q2 net profit, reaching Rs 1,057 crore, up from Rs 954 crore a year ago. Boosted by strong net interest income (NII) of Rs 2,367 crore, a 15% increase year-on-year, Federal Bank also reported total income growth to Rs 7,541 crore.
The stock, which opened 4.8% higher, reached an intraday peak of Rs 199.49 per share on the NSE. The bank, with a market cap of Rs 48,100 crore, saw high trading volumes, with 3 crore shares changing hands by 10:30 am.
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Source: Moneycontrol
News Desk
