Federal Bank shares jump nearly 8% after Q2 results

Shares of Federal Bank Tuesday rose by nearly 8 per cent after the company posted increase in net profit at Rs 266.04 crore for the quarter ended September. The scrip soared 7.86 per cent to end at Rs 81.65 apiece on the BSE. During the day, it jumped 9.37 per cent to Rs 82.80.

On the NSE, shares of the company surged 7.71 per cent to close at Rs 81.65. In terms of the equity volume, 56.25 lakh shares of the company were traded on the BSE and over 7 crore shares changed hands on the NSE during the day.

The bank had posted a net profit of Rs 263.7 crore during the July-September quarter of 2017-18, according to a regulatory filing by the company. The bank's total income stood at Rs 3,087.81 crore during the second quarter of the current fiscal as against Rs 2,666.82 crore in the year ago period.