Many investors are constantly searching for good shares to earn good returns in the stock market. However, choosing the right stocks can be a difficult task. As a result, experienced brokerage firms provide stock recommendations to make investors’ jobs easier. One such banking share is Federal Bank. Nomura, a brokerage firm, has estimated that the bank’s shares could increase by 25% next year. They have also set a price target of INR 190 per share for the next 12 months, representing a potential increase of 25% from the current market price. On Monday, Federal Bank’s share closed at INR 154.10 with a gain of 3.60%. The bank’s shares have already risen by 11% in 2023. Nomura expects the bank to achieve a 22% increase in pre-provisioning operating profit in the financial years 2024-2026, anticipating significant profits from the banks. Federal Bank’s Managing Director and CEO, Shyam Srinivasan, who has been leading the bank since 2010, will retire in September 2024. Nomura believes that this is a unique event to capture the movement of shares in the near future. The position of bank shares Federal Bank’s shares have seen an increase of more than 6% in the past month and a growth of 21.05% in the past six months. There has been a yearly increase of over 12% in the shares.
Federal Bank Share Price 05 December 2023:
1. The share price of Federal Bank closed at Rs. 154.10 on Monday, December 4th, with a growth of 3.60%.
2. Brokerage firm Nomura has estimated that Federal Bank shares can increase by 25% next year, considering it an “undervalued franchise”.
3. Nomura has set a price target of Rs. 190 per share for the next 12 months, representing a potential increase of 25% from the current market price.
4. Federal Bank shares have already seen an 11% increase by 2023.
5. Nomura expects that the bank will achieve a 22% growth in pre-provisioning operating profit in the financial years 2024-2026, leading to higher profits.
6. The Managing Director and CEO of Federal Bank, Shyam Srinivasan, will retire in September 2024.
7. Nomura believes that this retirement event is a one-time occurrence and doesn’t impact the future movement of the shares.
8. In the past month, Federal Bank shares have seen a growth of over 6% and a growth of 21.05% in the past six months.
9. Over the years, the shares have shown an annual growth of more than 12%.
Note: This information is based on the news article titled “Federal Bank Share Price 05 December 2023” and is subject to change.
People Can Find This Information Useful for: Federal Bank, share price, investors, stock, return, broker firm, experienced, advice, Federal Reserve, next year, 25%, growth, brokerage firm, Nomura, report, undervaluation franchise, estimate, target price, market price, representation, Monday, 4 December, 3.60% increase, 154.10 rupees, 2023, 11% increase, profits, expectations, 2024-2026 financial year, pre-provisioning operating profit, retirement, MD, CEO, Shyam Srinivasan, future, movement, event, banking shares, position, growth, month, 6% increase, six months, 21.05% increase, annual, 12% increase.
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.
