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Federal Bank plunges  more than 3% due to profit-booking

Federal Bank Ltd's stock was trading in the red, losing over 3%, due to profit-booking.

The bank reported a healthy Q4FY23 operational performance.

The gross advances grew by 20.2% on year to 1,77,480 crore from 1,47,639 crore.

The total deposits reached 2,13,384 crore, with a growth of 17.4%.

The stock hit an intraday low of 128.20 rupees and high of 133.45 rupees.

Over a period of three months, the stock has lost 6.2%.

The stock's weekly average delivery volume is 51.76%.

Analysts anticipate a continued downward trend for the stock.

According to a MintGenie poll, 28 analysts on an average recommend 'strong buy' for the stock.

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Federal Bank plunges more than 3% due to profit-booking

Analysts see weakness in the counter and anticipate a continued downward trend for the stock.

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Federal Bank drops over 3% in trade due to profit-booking; check details

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Federal Bank plunges more than 3% due to profit-booking

Analysts see weakness in the counter and anticipate a continued downward trend for the stock.

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