Rekha Jhunjhunwala held 5,90,30,060 shares or 2.42 per cent stake in Federal Bank at the end of December quarter, whose value jumped to Rs 1,620.74 crore in Wednesday's trade.
Axis Securities said that Policy Bazaar has decisively surpassed the past 6-8 months 'multiple resistance zone of Rs 1,935-1,945 with the current close, along with rising volumes.
In the September quarter, banks had delivered some margin related surprises, with many of them reporting an earlier-than-expected recovery, even after absorbing the full impact of the 50 bps rate cut in June 2025.