Rakesh Jhunjhunwala raises stake in Federal Bank to 2.78%

Billionaire investor Rakesh Jhunjhunwala has increased his stake in Federal Bank to 2.78% during the June quarter of FY22 from 2.40% in the March quarter of FY21. The bank shares are up nearly 25% year-to-date. Federal Bank's net profit was up 58.6% at ₹477.8 crore for the quarter ended March.