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 ₹130.