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.
Brokerage selected five midcap stocks and four smallcap stocks as its top picks. Some of these are Dalmia Bharat, Federal Bank, PNC Infratech, Praj Industries, and Ashok Leyland among others.