Rekha Jhunjhunwala, wife of late legendary investor Rakesh Jhunjhunwala, has increased her stake in Federal Bank in the December quarter, the latest shareholding pattern shows.
Rekha Jhunjhunwala now owns 1.17 percent stake, or 24.50 million shares in the private lender. Her name was not in the list of the September quarter shareholders but it is unclear whether she sold her entire stake or reduced it to below 1 percent. Holdings below a percent don't find a mention in the shareholding pattern list.
In the June quarter, Rakesh and Rekha Jhunjhunwala together held around 1 percent, while Rakesh Jhunjhunwala in his individual capacity had 2.63 percent stake in the Kerala-based bank.
In the September quarter, Rakesh Jhunjhunwala's stake dropped to 2.31 percent. Rakesh Jhunjhunwala passed away on August 14.
The stock ended 0.5 percent lower on Rs 136 on the BSE. The lender on January 16 reported a 54 percent jump in net profit in the December quarter at Rs 803.61 from the year-ago quarter on higher net interest income and lower provisions.
Provisions and contingencies declined 7.1 percent to Rs 198.69 crore from Rs 213.98 crore a year ago.
Net interest income (NII), or the income a bank earns by giving loans, increased 27.1 percent to Rs 1956.53 crore from Rs 1,538.90 crore in the year-ago quarter.
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