Shares of Federal Bank fall as Nifty drops
On the technical charts, the 200-day moving average of the stock stood at Rs 143.24.
Shares of slipped 1.81 per cent to Rs 149.1 in Wednesday's trade as of 11:37AM (IST). It hit a high of Rs 152.6 and low of Rs 148.8 during the session.The stock quoted a 52-week high price of Rs 166.65 and a low of Rs 120.9. The return on equity for the stock stood at 14.3 per cent. About 318,862 shares have changed hands on the counter so far.
The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.25.
The scrip has been an underperformer, up 15.18 per cent in the past one year in comparison with a 23.28 per cent gain in .
Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 120.9 on March 13, while the 50-DMA was at Rs 150.58. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.
Promoter/FII Holding
Promoters held 0.0 per cent stake in as of 31-Dec-2023. Mutual funds and foreign institutional investors held 34.87 per cent and 29.09 per cent stake.
Source: Stocks-Markets-Economic Times
