Buy DLF, target price Rs 340: ICICI Direct

ICICI Direct has buy call on DLF with a target price of Rs 340. The current market price of DLF is Rs 333.35.
Time period given by analyst is intraday year when DLF Ltd. price can reach defined target. DLF Ltd., incorporated in the year 1963, is a Large Cap company (having a market cap of Rs 82378.37 Crore) operating in Real Estate sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1242.27 Crore, down -34.84 % from last quarter Total Income of Rs 1906.59 Crore and up 92.01 % from last year same quarter Total Income of Rs 646.98 Crore. Company reported net profit after tax of Rs 202.54 Crore in latest quarter.

Investment Rationale
Price sustaining above 50 day EMA & moving out of recent consolidation range


Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of June 30, 2021, while FIIs held 17.2 per cent, DIIs 2.4 per cent and public and others 5.4 per cent.