Federal Bank Share Price 13 JUNE 2024
Amidst the ups and downs in the stock market, the private sector Federal Bank is showing significant momentum. The shares of Federal Reserve rose by more than 1% in trading on Tuesday (11 June). The medium-term growth outlook for the bank appears strong, with brokerage firm Nomura trading shares with an increase. The stock has returned 30% in the past year.
- Brokerage firm Nomura has recommended a buyout on Federal Bank. The target price per share has been set at ₹195. The stock closed at ₹167 on June 11, 2024. This stock could potentially increase by close to 17% from its current value.
- On Thursday (13 June 2024), the share was trading at ₹173 with a 0.75% decrease.
- The Federal Bank shares closed at ₹167.05 on Tuesday, rising by 1.37%. The stock has seen a growth of nearly 33% in the past year and is up 7% so far this year.
- On the BSE, Federal Bank hit a 52-week high of ₹170.25 and a low of ₹120.90. The company’s market capitalization is over ₹40,814 crores.
- The brokerage house expects the bank to achieve a credit growth of 18-20% in the medium term. There may also be an improvement in deposit rates in the same category. The bank is confident in maintaining a strong net interest margin profile in the near future.
- The management has stated that a 0.5% cut in the repo rate could have a negative impact of 0.10-0.15% on the net interest margin. The growth rate could be maintained at over 20% on a year-on-year basis.
Showcasing a mix of positive growth and potential, Federal Bank continues to be an interesting prospect in the stock market.
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.