• Source:JND
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Federal Bank Share Price:  Federal Bank shares rose 8% on Tuesday after increasing 11% to Rs 1,057 crore in the September quarter. The BSE rose 8% to Rs 199.55. The NSE increased 7.83% to Rs 199.49. The lender posted a net profit of Rs 954 crore in the year-ago period. Total income increased to Rs 7,541 crore in the quarter under review from Rs 6,186 crore in the same quarter last year, the Federal Bank said in a regulatory filing on Monday.

The bank reported interest income of Rs 6,577 crore for the quarter, up from Rs 5,455 crore in the same period a year earlier. Net interest income (NII) increased 15% to Rs 2,367 crore compared to Rs 2,056 crore in the same quarter a year ago.

In terms of asset quality, the bank has seen an improvement with gross non-performing assets (NPAs) falling to 2.09% of total loans by the end of September 2024 from 2.26% a year ago. Similarly, net NPAs or bad loans moderated to 0.57% from 0.64% at the end of the second quarter of the previous fiscal.

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Stock Market Today

Equity benchmark indices declined in early trade on Tuesday on persistent foreign fund outflows and subdued earnings so far reported by corporates. The S&P BSE Sensex was down 322.24 points at 79,682.80 in early trade. The NSE Nifty fell 86.55 points to 24,252.60.

Bharti Airtel fell nearly 3 per cent from the 30-share Sensex pack, but the company reported a 168 per cent year-on-year growth to Rs 3,593 crore for the September quarter. Mahindra & Mahindra, Sun Pharma, Tata Motors, JSW Steel, Infosys and IndusInd Bank were among the other losers.

NTPC, ICICI Bank, Larsen & Toubro and Nestle gained. Foreign institutional investors offloaded equities worth Rs 3,228.08 crore on Monday, according to exchange data. Seoul and Shanghai were lower in the Asian markets while Tokyo and Hong Kong were trading in the green.

Brent crude, the global benchmark, rose 0.18 per cent to $71.55 per barrel. The benchmark BSE jumped 602.75 points or 0.76 per cent to 80,005.04 on Monday. The Nifty rose 158.35 points, or 0.65 per cent, to 24,339.15.

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