Buy Ashiana Housing, target price Rs 160: Yes Securities

Yes Securities has buy call on Ashiana Housing with a target price of Rs 160. The current market price of Ashiana Housing Ltd. is Rs 140.5.

Ashiana Housing Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 1436.51 Crore) operating in Real Estate sector.

Time period given by analyst is Intra Day when Ashiana Housing price can reach defined target.


Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 89.71 Crore, up 79.24 % from last quarter Total Income of Rs 50.05 Crore and up 16.78 % from last year same quarter Total Income of Rs 76.82 Crore. Company reported net profit after tax of Rs 12.86 Crore in latest quarter.

Investment Rationale
The stock has resumed its uptrend after taking support at the 20-DMA support line placed at Rs 131. Further, it has broken out from a channel resistance on good volumes, confirming bullishness. Technical indicators are also in the bull territory, confirming strength in the stock.