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Buy Federal Bank, target Rs 91: CK Narayan

Buy Federal Bank Ltd. at a price target of Rs 91.0 and a stoploss at Rs 85 from entry point.

Updated: Nov 19, 2019, 09.14 AM IST
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CK Narayan of Chart Advise has a buy call on Federal Bank Ltd. with a target price of Rs 91. The current market price of Federal Bank Ltd. is Rs 86.95. Time period given by the analyst is Intra Day when Federal Bank Ltd. price can reach the defined target. CK Narayan recommended to keep stoploss at Rs 85. Federal Bank Ltd., incorporated in 1931, has a market cap of Rs 17311.56 crore.

Federal Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 9089.62 Crore to Sales Value (79.60 % of Total Sales), Income From Investment which contributed Rs 2037.45 Crore to Sales Value (17.84 % of Total Sales), Interest which contributed Rs 218.49 Crore to Sales Value (1.91 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 73.47 Crore to Sales Value (0.64 % of Total Sales)for the year ending 31-Mar-2019.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 3653.17 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 1879.41 Crore (.00% of total assets). For the quarter ended 30-09-2019, the company has reported a Consolidated Interest Income of Rs 2720.87 Crore, up 1.89 % from last quarter Interest Income of Rs 2670.52 Crore and up 20.51 % from last year same quarter Interest Income of Rs 2257.76 Crore. The bank has reported net profit after tax of Rs 424.40 Crore in latest quarter.

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Disclaimer: This recommendation is analyst's own and does not represent those of & Please consult your financial advisor before taking any position in the stock/s mentioned.

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