Federal Bank Shares Jump 4% After Acquisition Comments, Jana SFB Falls Nearly 10%
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Federal Bank shares rose 3.59% to Rs 350.15 on Monday after Executive Director Venkataraman V said the lender was not in active discussions on any acquisition.
- ✓Meanwhile, Jana Small Finance Bank shares fell 9.77% to Rs 442.65.
- ✓Venkataraman noted, “At this stage, there's no active consideration of any inorganic opportunity.”
Story at a Glance
- Category
- BUSINESS
- Reported By
- NDTV Profit
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Federal Bank Ltd. shares rose 3.59% to Rs 350.15 on Monday after Executive Director Venkataraman V told NDTV Profit that the lender was not in active discussions on any acquisition. Jana Small Finance Bank Ltd. shares fell 9.77% to Rs 442.65, trading near the day's low of Rs 424.40.
Federal Bank shares had closed at Rs 338 on the previous trading day and touched an intraday high of Rs 355.10. Jana Small Finance Bank shares had a previous close of Rs 490.60 and an intraday high of Rs 490.90.
The bank will continue to evaluate acquisition opportunities but remains focused on organic growth, Venkataraman said. “At this stage, there's no active consideration of any inorganic opportunity,” he said on Monday, adding, “We constantly evaluate opportunities on the inorganic because, as you know, we have stated our ambition to be a universal bank.”
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