Federal Bank in the red

Last year on the same day as today, 26th August 2014, Federal Bank had hit a new 52-week low at Rs.58.03 and today too, its down in the red. It has hit a new low but it surely is on the losers list. The stock is down over 3% at Rs.60 and that is as good as the intra day low of Rs.59.85.

The stock is down as Morgan Stanley sold 86.16 lakh shares on the NSE. This was a bulk deal and sold at an average price of Rs.60.28/share. Buyers names were not known. This sell by Morgan Stanley is 1% of the bank’s equity.

As at 30th June 2015, Warhol holds 4.94%, IFC holds 2.21%, Amansa Holding has a 3.03%, Bank of Muscat holds 1.95%, LIC has 2.21%, Franklin Templeton holds 3.66% and Dubai based businessman, Yusuffail Musaliam Veetil holds 3.68%.