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videos | IST

Federal Bank not a good buy at this point in time, says Prakash Diwan

Federal Bank's texture look very weak and it is not on a buying mode, said Prakash Diwan.
From the numbers, he said, the Bank may not be just the fact that they have had significant bump up in the provisioning, but the deterioration of the quality of book is something that one cannot put an end to just by one quarter's numbers so they could be some more pain left.
If Federal Bank slips below Rs 87-88 kind of zone then there will be lot of selling coming in and people will give up on it.