Federal Bank Limited up by 8.07%: Traders Market Update | Espresso


Espresso shot of the day – Federal Bank Ltd up by 8.07 percent

April 13, 2021
Espresso shot of the day – Federal Bank Ltd up by 8.07 percent

FEDERAL BANK LTD 77.00 (+8.07%) BSE – INE171A01029 | 13TH APRIL 2021

Federal Bank Limited is a major Indian commercial bank in the private sector having 1200+ branches and 1900+ ATMs/Recyclers spread across different states in India. The Bank is a pioneer among traditional banks in India in the area of using technology to leverage its operations and was among the first banks in India to computerise all its branches. The Federal Bank Limited offer its customers, a variety of services such as Internet banking, Mobile banking, Online bill payment, Fee collection, Depository services, Transaction Banking Services, Merchant banking services, Insurance, Mutual fund products and many more as part of its strategy to position itself as a financial super market and to enhance customer convenience. The history of Federal Bank Limited dates back to the pre-independence era. The Federal Bank Limited was incorporated on April 23, 1931 as the Travancore Federal Bank Limited, Nedumpuram under the Travancore Companies Regulation, 1916. Late K.P. Hormis, the visionary banker and founder took up the reigns in 1945 and built the bank a nationwide institution. The Bank's name was changed to The Federal Bank Limited on December 2,1949. The Federal Bank Limited was licensed under the Banking Regulation Act, 1949, on July 11, 1959 and became a scheduled commercial bank under the Second Schedule of Reserve Bank of India Act, 1934 on July 20, 1970. Today the bank is present in 25 States, Delhi NCT and 4 Union Territories and the bank is listed in BSE, NSE and London Stock Exchange.

Recent Drivers

  • The Federal Bank Limited posted a 9 % growth in advances at Rs 1,34,876 crores for the financial year ended March 2021 (Fy21). It had posted 11.02 per cent growth in loans in the last year ended March 2020 (Fy20).
  • On 19th March, Federal Bank MD & CEO Shyam Srinivasan has said that the private bank sees an opportunity to grow both organically and through acquisition. The Federal Bank Limited is interested in acquiring a microfinanace business as part of its focus on growing the retail high margin category.
  • On 20th March, The Federal Bank Limited emerged as runner up under the categories of Best Technology Bank of the Year and for Best IT Risk & Cyber Security Initiatives in medium banks category.
  • On 21st January, Federal Bank Limited Standalone December 2020 Net Interest Income (NII) at Rs 1,437.04 crores, up 24.43% Y-o-Y
(Sources: Times of India, Business Standards, Moneycontrol, News today)

Technical Force*

  • S&P BSE 100 month till date gain up by -1.19%
  • Spurts in volume by more than 2.15 times compares to previous vol. 3 months avg. Qty – 16,15,223
  • Quantity traded 24,74,165 Deliverable quantity 6,33,718 (25.61%)
  • Stock price has jumped more than 105% from one year low level – 36.85, 22 May 2020
  • Daily RSI(14) is near central line
  • 52 -week high –92.40 | 52- week low- 36.85

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Some Key Ratios (Source: BSE)

Market Cap: 15,362crores

PE: 10.87

OPM%: -

ROE%: 9.28

Promoters holding : -

Prev. Close: 71.25

*Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.