The exit of Joint Managing Director KVS Manian dragged Kotak Bank’s stock by 3 percent. But Federal Bank, where he is tipped to join as per reports, gained 3 percent
On March 13, Federal Bank said it has stopped issuance of new co-branded credit cards and is in the process of rectifying the areas that are deficient and will seek regulatory clearance prior to resumption of new issuance
Around 70% of stocks in Nifty MidCap 100 and Nifty SmallCap 100 indices witnessed a rise in mutual fund stakes in December 2023 quarter, according to Ace Equities data.
NTPC formed bullish candlestick pattern on the daily timeframe with above average volumes, continuing uptrend for three days in a row. The stock traded well above all key moving averages which is a positive sign.
There is an expectation that the tax exemption of capital gains bonds could be hiked to Rs 1 crore from Rs 50 lakh now, and the interest exemption on housing loans could be raised from Rs 2 lakh now.
Prabhudas Lilladher is bullish on Federal Bank has recommended buy rating on the stock with a target price of Rs 180 in its research report dated January 17, 2024.