Federal Bank to raise funds through Rights cum-Public issue

Federal Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on May 18, 2007 has taken decision to conduct a postal ballot to obtain approval from the Banks shareholders for the purpose of raising of share capital of the Bank by way of Rights cum-Public issue.

The stock closed on Friday at Rs.278.25, up by Rs.7.95 or 2.94%. The stock hit an intraday high of Rs.283 and low of Rs.268.95. The total traded quantity was 125248 compared to 2 week average of 174920.

Source : Equity Bulls

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