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Jana SFB Shares Plunge 13 Percent to Six-Month Low After Federal Bank Denies Stake Purchase Rumors
M
Moneycontrol•19-10-2026, 16:42
Jana SFB Shares Plunge 13 Percent to Six-Month Low After Federal Bank Denies Stake Purchase Rumors
- •Jana Small Finance Bank shares dropped nearly 13 percent to hit a six-month low on the NSE, closing at Rs 428 per share.
- •The sharp decline followed clarification from Federal Bank Executive Director Venkataraman V that the lender has no plans to acquire stakes in other banks.
- •Recent media reports had speculated that Federal Bank was looking to acquire a sizeable stake in Jana Small Finance Bank.
- •Federal Bank shares gained over 3 percent to reach Rs 348.85 on the NSE following the announcement.
- •Federal Bank stated it is currently focusing on organic growth while continuing to evaluate potential inorganic opportunities for its universal bank ambitions.
Key Questions Answered
Jana Small Finance Bank shares fell nearly 13 percent to hit a six-month low on the NSE after Federal Bank stated it had no plans to acquire a stake in the lender.
Federal Bank Executive Director Venkataraman V clarified that the lender is currently focusing on organic growth and has no active consideration for inorganic opportunities to acquire stakes in other lenders.
Shares of Federal Bank rose over 3 percent to reach Rs 348.85 on the NSE following the announcement.
