Prefer Federal Bank, says Gaurang Shah

Gaurang Shah of Geojit Financial Services told CNBC-TV18, "We don't have specific coverage on Religare Enterprises. I don’t know whether there will be any turnaround or not anytime soon, but I can suggest a shift over here. If one wants, as an alternative investment idea I would suggest Federal Bank wherein we have a coverage with a target of Rs 125-135."

Federal Bank ended at Rs 108.70, up Rs 3.20, or 3.03 percent.

The share touched its 52-week high Rs 122.40 and 52-week low Rs 61.85 on 16 June, 2017 and 26 December, 2016, respectively.