- HDFC Securities believes the Federal Bank could cross Rs 121 in the next year.
- Federal Bank has a market capitalization of Rs 21114.88 crore.
- Federal Bank is one of the favorite shares of Big Bull Rakesh Jhunjhunwala.
Share market is a world in itself. From big to small, various investors invest in their favorite companies to get a profitable return. The investment might be a penny or millions; the investors wait eagerly for their share to rise in the market. Many personalities have emerged through share markets and become heroes overnight through it.
Although there are many uncertainties in the stock market right now, brokerage houses are optimistic about the long-term prospects. In a declining market, the houses believe the investors can bet on quality stocks. If you’re looking for a good stock to invest in, Federal Bank is a good choice. This stock is also in the portfolio of veteran investor Rakesh Jhunjhunwala. Federal Bank is also one of Big Bull Rakesh Jhunjhunwala’s favorite stocks.
Federal Bank could cross Rs 121
According to a report, HDFC Securities has recommended that investors should invest in Federal Bank stock. The brokerage house has asked to buy it keeping the target price of Rs 121. Federal Bank Limited is currently trading at Rs 93.15 on the NSE. This banking stock, according to HDFC Securities, could hit Rs 121 in the next year. Axis Securities, on the other hand, has put it in its top pick for March, with a target price of Rs 125. That means one could make a profit of up to 35%.
Federal Bank Limited is a banking firm. It has a market capitalization of Rs 21114.88 crore. The Federal bank’s emphasis on retail is growing and the balance sheet is expected to see healthy growth. The digital strategy along with a 200bps improvement in the cast to income ratio in both FY2023 and 2024 will bring cast benefit to the bank. Federal Bank Limited’s key product/revenue segments include Interest and Discount on Advances and Bills, Income from Investments, Interest on Balance with RBI, and others.
Bansal’s Navi Technologies Gears Up For Rs 4,000-Crore IPO
Where Big bull’s favorite share Federal Bank is to cross Rs. 121 next year, Flipkart co-founder Sachin Bansal’s financial services firm, Navi Technologies, plans to raise Rs 4,000 crore in new capital through an initial public offering (IPO).
According to the reports, Navi is scheduled to file its draught red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) this week. The listing could take place in the first quarter of the following fiscal year.