Buy DLF, target price Rs 330: Yes Securities

Yes Securities has buy call on DLF with a target price of Rs 330. The current market price of DLF Ltd. is Rs 314.2.
DLF Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 77786.67 Crore) operating in Real Estate sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1668.22 Crore, down -3.18 % from last quarter Total Income of Rs 1723.09 Crore and up 8.80 % from last year same quarter Total Income of Rs 1533.34 Crore. Company reported net profit after tax of Rs 282.52 Crore in latest quarter.


Investment Rationale
Series of ascending tops and bottoms remains intact for the stock. The levels of its 20-day EMA could turn out as an immediate support zone.

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.