India's Federal Bank hits record high on strong quarterly performance update

Federal Bank

03/07/2024 05:25

** Shares of private lender Federal Bank  FED.NS  rise ~ 4%
to record high of 181.86 rupees
    ** Co reports ~ 20% jump in provisional gross advances and
total deposits for Q1
    ** 23 of 29 analysts tracking rate at "buy" or above, 5
"hold"; 1 "strong sell" with median PT at 195 rupees, as per
LSEG data
    ** FED top gainer in private bank index  .NIFPVTBNK , which
is up 2%
    ** Stk up 16% YTD vs 6% gains in private bank index 




 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))