GulfHindi English Desk: Federal Bank Ltd saw a 2% increase in its share price on Friday. The bank’s shares reached a level of INR 129.15 with a 1.85% increase at the closing of the stock market.
The company recently released its quarterly results for June. While the results were not as expected, experts believe that the bank’s shares will reach new heights.
According to a report by brokerage firm Motilal Oswal, the share price of Federal Bank could reach INR 155 in the near future. This means that the current share price could see a 22% increase. Additionally, Nuwama Wealth Management predicts that the stock could reach INR 160. Brokerage firm Prabhudas Lilladhar has set a target price of INR 175.
In other important information, Federal Bank reported a net profit of INR 853.74 crore in the fiscal year 2024, compared to INR 600.66 crore in the June quarter of 2023. The bank’s shares have seen an increase of over 30% in the past year and more than 5% in the last month.
The Jhunjhunwala family holds a 3.48% stake in the bank.
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en.gulfhindi.com News Summary
👉On Friday, there was a 2% increase in the shares of Federal Bank Ltd.
👉The bank’s shares closed at 129.15 rupees, with a 1.85% increase at the end of the market.
👉The company recently released its quarterly results for June, which were not as expected.
👉Experts believe that the share of Jhunjhunwala will reach a new high.
👉According to Motilal Oswal’s report, the share price of Federal Bank could reach 155 rupees in the near future, indicating a 22% increase compared to the current price.
👉Nuwama Wealth Management predicts that Jhunjhunwala’s stock could reach 160 rupees.
👉Prabhudas Lilladhar has set a target price of 175 rupees.
👉In the past year, Federal Bank’s shares have increased by more than 30%, and in the past month, there has been a growth of over 5%.
👉The Jhunjhunwala family holds a 3.48% stake in the bank.
👉The bank’s net profit for the June quarter of the fiscal year 2023 was 600.66 crore rupees, while in the fiscal year 2024, the net profit reached 853.74 crore rupees.
👉The table provides important information about the bank’s performance in the stock market.
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