Nomura has maintained its ‘Buy’ rating on Federal Bank, with a target price of Rs 240, projecting a 24% upside from the current market price. In its pre-Q2 update, the brokerage highlights strong loan growth, though deposit growth has been softer on a quarter-on-quarter (QoQ) basis.
Additionally, CASA growth remained steady sequentially, signaling stable performance in the bank’s core deposit base.
Current market price (CMP): Rs 193.97 as of 8 AM, Oct 7, 2024
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Federal Bank