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JP Morgan initiates overweight on Rekha Jhunjhunwala-backed banking stock, says best in midcaps

In a span of one-year, Federal Bank has outperformed both Nifty and Bank Nifty. The bank has relatively stronger liability franchise compared to its peers in midcap space. JP Morgan has initiated an overweight rating on the bank s share price while setting a target price of ₹150. ....

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