The technical analyst from HDFC Securities reommends buying Federal Bank 85 Put with a stop loss at Re 1.
NIM of the lender rose 7.38% to Rs 1,525.21 crore in Q4FY22, from Rs 1,420.37 crore in the year-ago period
The Federal Bank stock is attempting a breakout on the upside by crossing Rs 103 level, the Relative Strength Index (RSI) has formed a positive crossover indicating a bullish strength.
BHEL, Birlasoft, Canara Bank, Fino Payments Banks, LIC Housing Finance, MayMyIndia, McDowell Holdings, PNB, RBL Bank and Wockhardt to announce results today.
Net interest income rose by 7% to Rs 1,539 cr
Nifty Bank was trading lower for the sixth straight day, having fallen 8 per cent during the period