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    Buy Federal Bank, target price Rs 136.5: ICICI Direct

    Synopsis

    Federal Bank, incorporated in the year 1931, is a banking company (having a market cap of Rs 28547.55 Crore).

    Federal BankAgencies
    Price sustaining above the recent falling supply line breakout area and 50 days EMA signalling continuation of the up move.
    ICICI Direct has buy call on Federal Bank with a target price of Rs 136.5. The current market price of Federal Bank is Rs 134.7 Time period given by analyst is Intra Day when Federal Bank price can reach defined target. ICICI Direct recommended to keep stoploss at Rs 133.4.

    Federal Bank, incorporated in the year 1931, is a banking company (having a market cap of Rs 28547.55 Crore).

    Federal Bank 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-2022.

    Financials
    For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 5262.58 Crore, up 7.69 % from last quarter Total Income of Rs 4886.58 Crore and up 27.57 % from last year same quarter Total Income of Rs 4125.30 Crore. The bank has reported net profit after tax of Rs 843.25 Crore in latest quarter.

    Investment Rationale
    Price sustaining above the recent falling supply line breakout area and 50 days EMA signalling continuation of the up move.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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