Buy Federal Bank, target price Rs 105: Axis Securities

Axis Securities has buy call on Federal Bank with a target price of Rs 105. The current market price of Federal Bank Ltd. is Rs 95.55. Time period given by analyst is 4 weeks 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 20016.24 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 31-03-2022, the company reported a Consolidated Total Income of Rs 4170.55 Crore, up 1.10 % from last quarter Total Income of Rs 4125.30 Crore and up 4.36 % from last year same quarter Total Income of Rs 3996.43 Crore. The bank reported net profit after tax of Rs 587.54 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 26.01 per cent, DIIs 43.25 per cent.