Federal Bank Share Price Update: 9 March 2024
In recent months, experts in the stock market have been excited by the Federal Reserve. According to a report, brokerage house Axis Securities has given a buy rating to Federal Bank, which is priced at Rs 175 to Rs 185 per share. Veteran investor Rekha Jhunjhunwala has also invested in these shares. On Thursday, the price of Federal Bank shares was Rs 155.65 per share. In the past month, the banking stock has provided investors with returns of over 6%. However, those who have invested in the past year have only seen a 14% increase. Over the past five years, the shares have risen by 70.30%. The 52-week high for the stock is Rs 166.35 and the 52-week low is Rs 121.
Brokerage firm Motilal Oswal believes that the bank’s share price could reach up to Rs 175 per share. The Systematic Institutional Equities report has set a target price of Rs 180. The brokerage firm believes that the bank’s loan segment can achieve growth of 18 to 20%. Rekha Jhunjhunwala, including others, holds a total stake of 3.02% in Federal Bank. The shareholding is valid until December 31, 2023. As of Thursday, they held Rs 1,148 crore worth of bank shares.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
