13 Aug , 2022 By : Kanchan Joshi
Rakesh Jhunjhunwala portfolio: After nosediving to its 52-week low in May 2022, Federal Bank share have rebounded strongly and has regained the psychological Rs100 levels recently. However, for those investors who follow Rakesh Jhunjhunwala portfolio for a value pick, there is a piece of stock market news for them. This banking stock has given breakout on closing basis above Rs107 apiece levels. Now, Federal Bank share price is in 'uptrend' and it may go up to Rs144 in next 6-9 months. They advised positional investors to buy Federal Bank stocks at current levels and keep on accumulating till it is above Rs100 apiece levels.
Speaking on Federal Bank share price outlook, Punit Patni, Equity Research Analyst at Swastika Investmart said, "We are positive about Federal Bank shares due to its strong-granular liability franchise, low cost of funds advantage, strong underwriting standards, partnership with fintech & digital initiatives, and sanguine growth outlook. Further, the ROA of the bank is envisaged to rise due to the rising share of the high-yielding retail loans. We believe that the bank is a serious candidate for rerating as the valuation remains cheap despite the aforementioned positives and the current rise in the share price."
Calling Federal Bank shares a 'portfolio stock', Ravi Singh, CEO at GCL Securities said, "Federal Bank has successfully survived the Covid challenge and its now a profit making bank with increased net profit of over 63 per cent. This has happened due to lowering of the provisioning, but the bank is expected to gain in rising interest rate regime through NIM. So, the bank is now a portfolio stock that one can hold for 6-9 months target of Rs144 per share."
Ravi Singhal of GCL Securities said that one should keep on accumulating this Rakesh Jhunjhunwala portfolio stock till the stock is above Rs100 levels.
Rakesh Jhunjhunwala shareholding in Federal Bank
According to Federal Bank shareholding for April to June 2022 quarter, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala own shares of this south Indian bank. Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together hold 2,10,00,000 shares or 1.01 per cent stake in the bank. However, in individual capacity, Rakesh Jhunjhunwala holds 5,47,21,060 Federal Bank shares or 2.64 per cent stake in the bank. So, Jhunjhunwala couple together hold 3.65 per cent stake in this south Indian bank.