Federal Bank shares rise 7%, cross Rs 129


Shares of Federal Bank, a private sector bank, rose 7 percent to cross Rs 129 in early trade on Monday on the Bombay Stock Exchange (BSE). Federal Bank shares hit new all-time highs. 

Federal Bank's shares have remained bullish for the past few days. In the last 5 days, the bank's shares have gained almost 10%. Market experts say that the shares of Federal Bank can reach close to Rs 150 in the coming days. 

Domestic brokerage house and research firm Nirmal Bang has given a buy rating to the shares of Federal Bank. The brokerage house has given a target price of Rs 149 for the shares of the bank.