April 28, 2017 / 8:50 AM / 3 months ago

BUZZ-India's Federal Bank hits record high; qtrly profit soars

1 Min Read

** Shares of Federal Bank Ltd jump as much as 13.67 pct to a record high

** March-qtr net profit surges to 2.57 bln rupees ($40.04 mln) from 102.6 mln rupees last year

** Gross bad loans as a percentage of total loans fall to 2.33 pct at end-March, from 2.77 pct in the previous qtr

** Separately, the bank approves fund raising of up to 25 bln rupees via issue of equity capital

** More than 46 mln shares change hands, 6.2 times their 30-day moving avg

** Stock has risen 41 pct this year up to Thursday's close ($1 = 64.1875 Indian rupees)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below