Buy Brigade Enterprises, target price Rs 524: ICICI Direct

ICICI Direct has buy call on Brigade Enterprises with a target price of Rs 524. The current market price of Brigade Enterprises is Rs 491.6.

Time period given by analyst is Intra Day when Brigade Enterprises Ltd. price can reach defined target.

Brigade Enterprises Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 11272.87 Crore) operating in Real Estate sector.


Brigade Enterprises Ltd. key Products/Revenue Segments include Income From Real Estate Development, Lease Rentals, Other Services, Other Operating Revenue, Shares & Securities for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 776.08 Crore, up 98.22 % from last quarter Total Income of Rs 391.52 Crore and up 140.97 % from last year same quarter Total Income of Rs 322.06 Crore. Company reported net profit after tax of Rs -14.44 Crore in latest quarter.

Investment Rationale
Breakout above a bullish flag like formation and RSI in buy mode

Promoter/FII Holdings
Promoters held 43.96 per cent stake in the company as of 30-Sep-2021, while FIIs owned 13.08 per cent, DIIs 24.98 per cent.