Stocks To Buy: The share of private sector bank Federal Bank can go up to Rs 175 in the coming times. Stock market experts are bullish on this banking stock. Domestic brokerage Prabhudas Lilladher has a buy recommendation with a target price of Rs 175. A total of 25 out of 29 experts have given buy advice on it. Four have asked to hold. On Wednesday, shares of Federal Bank closed at Rs 135.75 with a gain. On the other hand, 60 experts have an average target price of Rs 166.63 with Buy rating.

Federal Bank has said that its board has fixed the base price at ₹132.59 per share for its upcoming QIP. The Bank has the option to apply a discount of up to 5% on this floor price for the issue. The bank’s net profit rose 42% to ₹1,147 crore in the June quarter.

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If we look at the shareholding pattern of Federal Bank for the June quarter, the foreign investors’ stake in this stock with zero promoters has come down to 26.27 per cent. It was 27.72 percent in the previous quarter. Domestic institutional investors have also reduced their stake from 42.29 per cent to 41.74 per cent. However, mutual funds have increased their stake in this from 32.80 to 33.13 per cent. The remaining stake is held by other investors.

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own and not those of Live Hindustan. The information given here is only about the performance of the stock, it is not investment advice. Investing in the stock market is subject to risks and consult your advisor before investing.)