Buy Federal Bank, target price Rs 102: Kotak Securities

Kotak Securities has buy call on Federal Bank Ltd. with a target price of Rs 102. The current market price of Federal Bank Ltd. is Rs 96.5.

Time period given by analyst is Intra Day when Federal Bank Ltd. price can reach defined target.

Federal Bank Ltd., incorporated in the year 1931, is a banking company (having a market cap of Rs 20552.80 Crore).


Federal Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 4013.46 Crore, down -3.24 % from last quarter Total Income of Rs 4147.77 Crore and down -2.85 % from last year same quarter Total Income of Rs 4131.32 Crore. The bank reported net profit after tax of Rs 499.42 Crore in latest quarter.

Investment Rationale
The stock is trading near its important retracement zone and the pullback rally for upside is probable.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 25.92 per cent, DIIs 42.54 per cent.