Buy Federal Bank, target price Rs 230: Axis Securities
Federal Bank with a target price of Rs 230. The current market price of Federal Bank Ltd. is Rs 196.
Federal Bank Ltd., incorporated in the year 1931, is a banking company (having a market cap of Rs 48198.95 Crore).
Federal Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2024.
Financials For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 7663.65 Crore, up 7.20 % from last quarter Total Income of Rs 7149.12 Crore and up 25.82 % from last year same quarter Total Income of Rs 6091.08 Crore. The bank reported net profit after tax of Rs 1027.51 Crore in latest quarter.
Promoter/FII Holdings Promoters held 0 per cent stake in the company as of 30-Jun-2024, while FIIs owned 28.63 per cent, DIIs 44.96 per cent.
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