Federal Bank Ltd soars 2.56%, up for third straight session
Federal Bank Ltd is quoting at Rs 211.53, up 2.56% on the day as on 12:49 IST on the NSE. The stock is up 36.78% in last one year as compared to a 12.38% jump in NIFTY and a 18.53% jump in the Nifty Bank index.
Federal Bank Ltd is up for a third straight session in a row. The stock is quoting at Rs 211.53, up 2.56% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.5% on the day, quoting at 24593.65. The Sensex is at 80678.61, down 0.85%. Federal Bank Ltd has gained around 10.45% in last one month.
Meanwhile, Nifty Bank index of which Federal Bank Ltd is a constituent, has gained around 1.28% in last one month and is currently quoting at 55903.4, down 0.5% on the day. The volume in the stock stood at 155.63 lakh shares today, compared to the daily average of 81.65 lakh shares in last one month.
The benchmark June futures contract for the stock is quoting at Rs 212.06, up 2.29% on the day. Federal Bank Ltd is up 36.78% in last one year as compared to a 12.38% jump in NIFTY and a 18.53% jump in the Nifty Bank index.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
19 minutes ago
- Economic Times
Stay put if you already have defence & railways stocks but avoid fresh investments: Dipan Mehta
Dipan Mehta, Director, Elixir Equities, says defence sector earnings have been strong, attracting investors and momentum trading, but valuations appear stretched with potential execution challenges. While railway stocks are rising in sympathy, government expenditure remains stable, and some companies have reported disappointing results. Existing investors may hold, but fresh investments in both sectors are not recommended due to valuation concerns. ADVERTISEMENT I want your view on the overall market yes, of course, but select packs in the market are once again gaining some steam like railways and defence. These are themes that had seen a runup, then cooled off for a bit and they have started spiking again today. Do you believe this is the beginning of another leg of spikes or do you believe it was just a one-off? Dipan Mehta: It is a continuation of the momentum which we have seen in these companies over the past few weeks or so. If you analyse the entire earning season, the best sector has been defence, not as much railways, but defence certainly has come out with flying colours and that is why investors are getting focused over there and a lot of momentum trading is also taking place over there and a lot of retail traders have entered these counters, I think the valuations are a bit stretched at this point of time. No doubt the sector had a great quarter this time, but there are always execution challenges and if you go back into history, there is a lot of lumpiness in their earnings which is not completely discounted in the valuation ratios. So, if you are invested in defence, I would say remain invested but from a fresh investment perspective to me, it is an avoid. Pick undervalued, high-quality stocks: Sonam Srivastava's 2025 playbook I am not sure about Railways. They are going up in sympathy with the defence hoping that government expenditure will pick up over there. We do not know that for sure because in the last three years, railway expenditure in the Budget has been pretty much stable at around Rs 2.5 lakh crore or so and over there also, despite a steep 30-50% correction in railway stocks, they are still quite expensive and some of the bigger ones like Titagarh Wagons came with a very disappointing set of numbers as well. I would avoid both sectors from a fresh investment perspective. But there is great long-term visibility and if you are an investor with a long-term view, you may remain invested. The big wave or the fad in the market right now is promoter exits and that too at steep discounts in some cases amid the rich valuations. There are many block deals on a daily basis and some even FII and DII driven. What is that smacking off and should one now warrant caution in the markets? Is it smacking of peak valuations by any chance? Dipan Mehta: We have seen this play out in the past also in the early half of 2024 right up to September 24 and we saw a correction after that. So, the minute the market starts to do well and valuations get steep, we are seeing promoter selling and we are seeing private equity selling and that all has been absorbed by retail investors either directly or through mutual funds. ADVERTISEMENT It has not reached the peaks which we saw in 2024, but certainly the trend is getting more and more accentuated. So, yes, it is a signal that markets are at the expensive zone and in my opinion, there are less uncertainties now than a few months ago with the exception of Trump and we do have a supportive Reserve Bank and a lot of favourable macro factors as well. In this earning season one thing is very clear that it has been very selective.I suspect the next few months will be very selective for the markets as well and wherever there are pockets of overvaluation, we will continue to see supply and this is going to be a very challenging time for the investors and not like what we saw last three-four years up to September '24 where entire market rallied. The entire trend is going to get very narrow and it is going to be a bit difficult to charter for the novice investors. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
30 minutes ago
- Time of India
Make in India, circularity, and fitness fads – Decathlon wants a chunk of India's sports retail pie
French sporting goods retailer Decathlon foresees 80% of their sales in India coming via Make in India products in the next five years, up from the current 60%. This syncs up with the sports retailer's investment of 100 million euros in India last year as part of a strategic plan to boost local manufacturing and solidify their presence in the country. 'Such sales are just not restricted to textile items. For instance, in the case of bicycles that we sell here, 98% is made in India. 10 years before, this was a mere 2%. So, it has come a long way. Make in India is a big advantage in terms of hedging the risk amid the geopolitical scenario, import restrictions and many other uncertainties that may come up. At the same time, it also hedges risk linked to currency fluctuations. So, we believe that India production as well as manufacturing is a strength for the business model of Decathlon India,' Sankar Chatterjee , CEO, Decathlon India told ET Digital in an interaction. A global multi-specialist sports brand offering over 60 sports under one roof, Decathlon is a manufacturer of sporting goods. With 1,750 stores worldwide and 133 stores in India, it is now looking to further its sustainability operations in the India market. The brand announced the launch of its circular business model in the country on Wednesday, anchored around three core offerings – repair services available in over 95 stores, second life resale of refurbished products in more than 90 stores and buyback of used equipment in over 50 stores, which will be slowly scaled across the country and will later be made available online. Decathlon anticipates diverting over 3,00,000 sports products from landfills by 2027 through these efforts, creating a reduction in environmental impact. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Pelajari Undo Sankar Chatterjee, CEO, Decathlon India highlights that India comes among the top 10 sports markets in the world. As part of the launch, it unveiled its sustainability campaign, Second Life Bazaar , scheduled to begin on World Environment Day from June 5th to 15th, across 68 stores nationwide. The Bazaar is designed to encourage sustainable consumption by empowering customers with hands-on DIY maintenance workshops and practical ways to prolong the lifespan of their sports gear. Annie George , Leader Sustainable Development, Decathlon India, states that the focus is on creating real and scalable solutions as India moves towards a circular economy. 'Such solutions can range from designing for durability to enabling easy repairs and buybacks. It's not just about reducing environmental impact–it's about reshaping how people access sport in a more responsible way,' she says. Live Events The circular turnover for the brand is expected to scale to Rs 100 cr by 2027 versus Rs 35 cr in the current year. The India launch is a key part of Decathlon's global decarbonisation strategy, which includes achieving net-zero greenhouse gas emissions by 2050 and a 42% reduction in absolute CO2 emissions by 2030. This is being driven by a focused approach to eliminating single-use plastic, designing long-lasting, repairable products, scaling second-life solutions, and reducing site emissions. George highlights that the biggest contribution that comes into their footprint is the products. 'Manufacturing, transporting, using the products – that is where the entire emissions stem from. When one moves towards a circular way of doing business, instead of manufacturing a new product, it is reused and it can be used multiple times. In the future, there can be other ways of increasing the life of the product through repair. Right now, our focus is decarbonising the circular business and then eventually we will move into regenerative business,' she says. Decathlon first rolled out its circular business model nearly five years ago across markets such as France, Spain, Italy, Portugal, the UK and Poland, where it has seen strong consumer uptake and operational maturity in repair and DIY spares and accessories. With the India rollout, Decathlon looks to strengthen its position in low-impact, circular sports retail which blends in sustainability as part of its operations. Delving into the future plans for the sports brand in the country, Chatterjee states that they are also investing on the value chain in terms of logistics' automation to create 'very fast' deliveries. 'We are today working with ecommerce; we are also working to make our own DTC channel for faster delivery possibilities with the investment of last mile and fulfilment strategy,' he states. Bullish about the future of the sports market in India in the times ahead, the Decathlon India CEO highlights that India comes among the top 10 sports markets in the world. As per a joint report by Deloitte and Google last year, India's sports market is projected to grow to $130 billion by 2030 from a market size of $52 billion now, accelerating at a CAGR of 14%. 'The young generation is now spending more time on leading an active lifestyle and playing more sports. Besides, interest in different kinds of sporting activities is coming up and not just in cricket. An example of that is the Indian Super League on football, which was not present some years back. There is a lot of investment in sports like Kabbadi and Table Tennis as well. These are all part of competitive sports. But even in leisure sports, spending time on activities like fitness or technical sports is happening in a big way. So the market is continuously evolving and we are a part of that change,' he says.
Scroll.in
30 minutes ago
- Scroll.in
Maharashtra contractors warn of state-wide protest if Rs 80,000 crore dues not paid
An association of contractors working with Maharashtra government departments has warned of a state-wide protest if the authorities do not release dues of over Rs 80,000 crore by June 10, CNBC-TV18 reported on Thursday. The Maharashtra Contractors Association, which claims to represent about three lakh members in 35 districts of the state, plans to launch a mass awareness campaign and a large-scale protest if the government does not meet the deadline for payments. 'The government has chosen to remain silent, but we will not,' the association's president Milind Bhosale told CNBC-TV18. 'If needed, we will take this agitation to every corner of Maharashtra.' The association has claimed that payments to the tune of Rs 38,000 crore are pending from the state public works department, Rs 6,500 crore from the rural development department, Rs 12,000 crore from the water conservation and water resources department and Rs 4,217 crore from the urban development department. Bhosale said the association has filed a petition in the Bombay High Court against the rural development department, CNBC-TV18 reported. He added that if its demands are not met by June 10, it will file another petition against the public works department. 'We wrote to Chief Minister Devendra Fadnavis again a couple of days ago,' he told the channel. 'But still, there is no sign of us getting our money.' In February, the contractors had gone on strike for a week to protest the dues. They had alleged that the government had not paid them since July last year, although it was allocating money for initiatives like the Ladki Bahin Scheme for monthly payments to women, The Times of India reported. At the time, Maharashtra Public Works Department Minister Shivendraraje Bhosle said he had asked for Rs 10,000 crore to be released at the earliest for the contractors, according to The Indian Express. 'I have spoken to the chief minister and finance minister,' the minister had told the newspaper. 'Both are positive regarding the demands raised by contractors. The government is positive about our demand of Rs 10,000 crore to be released at the earliest.'
