Federal Bank gains on launching new Life Insurance products
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The Federal Bank is currently trading at Rs. 187.85, up by 1.85 points or 0.99% from its previous closing of Rs. 186.00 on the BSE.
The scrip opened at Rs. 187.95 and has touched a high and low of Rs. 189.30 and Rs. 185.30 respectively. So far 202196 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 189.30 on 08-Jul-2024 and a 52 week low of Rs. 126.45 on 13-Jul-2023.
Last one week high and low of the scrip stood at Rs. 189.30 and Rs. 173.95 respectively. The current market cap of the company is Rs. 46081.27 crore.
The Institutions and Non-Institutions held 73.73% and 26.27% stake in the company respectively.
Federal Bank has launched new Life Insurance products. This product caters to domestic market. The bank has launched new product on July 5, 2024. Furthermore, the bank has entered into a strategic Bancassurance partnership with Bajaj Allianz Life Insurance. With this collaboration, it now has a total of 10 insurance partners. This strategic alliance aims to provide Federal Bank's customers access to Bajaj Allianz Life insurance company’s product suite.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.
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