Federal Bank share price up 4% as Rakesh Jhunhjunwala buys additional stake

Date – 20/7/2020

Jhunhjunwala's holding in the bank stood at 3.18 percent in the June quarter 2020 against 3.08 percent in March 2020.

Federal Bank share price rose 4 percent intraday on July 20 after veteran investor Rakesh Jhunhjunwala bought an additional 20 lakh shares in the April-June quarter.

Jhunhjunwala's total holding in the bank stood at 3.18 percent in the quarter ended June 2020 against 3.08 percent in March 2020.

Also, HDFC Life Insurance Company limited -Shareholders Solvency Margin Account also increased its holding in the company by 49,10,384 shares. Tts holding in June 2020 stood at 3.14 percent against 2.89 percent in the March quarter.

At 1433 hrs Federal Bank was quoting at Rs 53.60, up Rs 1.50, or 2.88 percen on the BSE.

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