What To Watch. Federal Bank to turn ex-bonus on Wednesday

Shares of Federal Bank will remain in focus on Tuesday, as the stock turns ex-date for bonus issue on Wednesday. That means, Tuesday is the last date for shareholders to become eligible to receive the bonus shares. The bank is rewarding its shareholders with a 1:1 bonus issue. Close to 95,000 individual shareholders, who control 19.78 per cent stake in the bank, will benefit. NRI businessman MA Yousuf Ali holds a sizeable stake (3.69 per cent) in Federal Bank.