scorecardresearchThis private sector bank is up 23% in one month; trading 38% above its 52-week lows

This private sector bank is up 23% in one month; trading 38% above its 52-week lows

Updated: 25 Jul 2022, 12:45 PM IST
TL;DR.
On July 15, Federal Bank posted an impressive 64 per cent year-on-year surge in net profit at 600.66 crore for the June ending quarter.  Since its Q1 result announcement, the stock has gone from 97.20 to 105.20 levels, delivering a return of over 8.23%.
After a solid Q1 result, several brokerages turned bullish on the bank. Brokerage firm Motilal Oswal Financial Services has maintained a 'buy' call on the stock with a target price of  <span class='webrupee'>₹</span>130.

After a solid Q1 result, several brokerages turned bullish on the bank. Brokerage firm Motilal Oswal Financial Services has maintained a 'buy' call on the stock with a target price of 130.