The stock of Federal Bank dropped 8% as investors took profits amid a weak market. The stock has risen 24% from its 52-week low, but is still 10% away from its high. It gained 5% in February after a decline last month. The bank announced the allotment of equity shares to employees under an ESOS scheme and is in the process of selecting a new CEO. In Q3FY23, the bank saw a 25% rise in net.