Shares of Federal Bank were on an uptrend and gained around one per cent today to hit an intra day high of ₹158.55 against its 52-week high of ₹166.65 apiece on the BSE.
Federal Bank may report 30.4 per cent jump in profit at Rs 783 crore, said Kotak Institutional Equities. It sees NII rising 21.8 per cent YoY to Rs 1,954 crore.
On March 18, the board of Federal Bank will meet to discuss a proposal to raise up to ₹1,000 crore through the issuance of debentures, the bank said on Wednesday.