Stock market analyst Monal Desai of Prabhudas Liladhar has maintained 'buy' rating on Federal Bank Ltd stock with a target of Rs 385.

According to analyst, the interested investors can buy the stock above Rs 94 with a strict stop loss of Rs 356.

The stock of the bank, on Sep 08, closed at Rs 362.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 369 and a low of Rs 225 on BSE.

Current EPS & P/E ratio stood at 26.92 and 13.60 respectively.

Ernakulam-headquartered banking institution, Federal Bank, announced that it is expecting to hit a total biz of Rs 75,000 crore by the end of the existing financial year (2010-11).

South-based lender said that it attain the said goal on account of sturdy growth in its depository income as well as credit.

The Bank's Executive Director P R Kalyanaraman stated, "Our total business currently in the region is of Rs 61,000 crore and we expect to touch Rs 75,000 crore by end of March 2011 and Rs 1,00,000 crore by March 2012."

The banking institution said that it is eyeing to register an increase of 18-20% in credit during the existing year, while the expected growth in deposits is over 20%.

The bank said that it will launch more than 70 divisions in Indian by the existing fiscal and has already forwarded an application in this regard to the central bank (RBI).

Moreover, the bank hopes to uphold its net interest margins in the bracket of 3.5-4 per cent in 2010-11.