Shares of Federal Bank surged more than 4.76 per cent to Rs 170.25, hitting its new 52-week high and commanding a total market capitalization of more than 41,000 crore.
Shares of Federal Bank rose more than 1.35 per cent during the trading session on Thursday to Rs 156.75 with a total market captialization close to Rs 38,000 crore.
Kotak Mahindra Bank has announced that KVS Manian has been re-designated as the Joint Managing Director with effect from March 1, 2024. Federal Bank had reportedly shortlisted Manian as a CEO candidate.
Shares of Federal Bank shed 8 percent in intra-day deals on Tuesday as investors booked profit in the lender amid an overall weak market environment. Both Nifty Bank as well as Nifty also lost 0.2 percent in intra-day deals today.
Federal Bank on Tuesday reported a net profit of Rs 1,007 crore for the December quarter of the financial year 2023-24, a 25 per cent jump on a year-on-year basis.