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Stock Market- 4 brokerage houses have given buy advice on Federal Bank shares. Motilal Oswal, Centrum Broking, IIFL Capital and Nuwama have given a target price of ₹ 215-₹ 225.
The stock market has started the trading week with a decline. Today, on Monday, the major benchmark indices Sensex and Nifty50 fell by 1% during intraday trading. Selling by foreign investors (FIIs), weak global signals, high valuation and weak December quarter results of Indian companies have affected the market sentiment. If you are also looking for a profitable stock in the falling market, then you can bet on Federal Bank shares. 4 brokerage houses have advised to buy this stock included in Rekha Jhunjhunwala’s portfolio.
Brokerages advising to bet on Federal Bank shares include Motilal Oswal, Centrum Broking, IIFL Capital and Nuvama. These brokerage houses have given a target price of ₹ 215 to ₹ 225 on Federal Bank. Today, on Monday, February 24, Federal Bank shares rose by about two percent in intraday to reach Rs 183.40. At the time of writing the news, this Federal Bank share was trading at Rs 181.35 on NSE with a gain of 0.83 per cent.
Brokerage Houses’ View
Brokerage firm Centrum Broking has maintained its ‘ADD’ rating on Federal Bank and has given a target price of ₹ 219. This is 19% upside from the current price. At the same time, IIFL Capital has upgraded its rating to ‘BUY’ and has set the target price of the stock at ₹ 218. Motilal Oswal has also maintained the ‘buy’ rating on Federal Bank and has predicted it to go up to ₹ 225 in the long term. Nuvama Brokerage has also maintained the BUY rating for Federal Bank and has given a target price of ₹ 215.
Rekha Jhunjhunwala has also invested
Federal Bank’s stock is also included in the portfolio of Rekha Jhunjhunwala, wife of veteran investor Rakesh Jhunjhunwala. She has 34,530,060 shares, which is equivalent to 1.4% stake in the company. As per the corporate shareholding pattern of December 2024, his total holding value in the stock is close to ₹628.5 crore.