Buy DLF, target price Rs 200: Edelweiss

Edelweiss has given a buy rating to DLF with a target price of Rs 200. The share price moved up by 0.83 per cent from its previous close of Rs 180.55. The stock’s last traded price is Rs 182.05.

DLF Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 44865.02 Crore) operating in Real Estate sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1609.82 Crore, up 193.43 % from last quarter Sales of Rs 548.63 Crore and down -6.16 % from last year same quarter Sales of Rs 1715.51 Crore Company reported net profit after tax of Rs 114.10 Crore in latest quarter.


Investment Rationale
The stock is on the cusp of a range breakout above Rs 182. We believe once the stock starts trading above Rs 182, it can see huge momentum on the upside.

Promoter/FII Holdings
Promoters held 74.9 per cent stake in the company as of June 30, 2020, while FIIs held 18.5 per cent, DIIs 1.8 per cent and public and others 4.7 per cent.