Federal Bank stock cracks nearly 13% post Q4 earnings; Deutsche Bank maintains buy

Deutsche Bank maintains its buy rating on Federal Bank but has reduced its 12-month target price to Rs 120 per share from Rs 130 earlier. The Federal Bank counter has slipped as much as 13 percent in the first 30-minutes of trade on Thursday, a day after it reported a 43.5 percent year-on-year (YoY) drop in net profit at Rs 145 crore for the March quarter due to increase in provisions and worsening asset quality.

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