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.
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.