Buy DLF, target price Rs 418: ICICI Direct

ICICI Direct has buy call on DLF with a target price of Rs 418. The current market price of DLF Ltd. is Rs 396.25 Time period given by analyst is Intra Day 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 97712.93 Crore) operating in Real Estate sector.

DLF Ltd. key Products/Revenue Segments include Property Development, Rental Income, Other Operating Revenue and Royalty Income for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1556.53 Crore, up 25.30 % from last quarter Total Income of Rs 1242.27 Crore and down -9.67 % from last year same quarter Total Income of Rs 1723.09 Crore. Company reported net profit after tax of Rs 226.33 Crore in latest quarter.

Investment Rationale
Potential double bottom formation at 100-day EMA offers favourable risk reward set up.

Promoter/FII Holdings
Promoters held 74.95 per cent stake in the company as of 30-Sep-2021, while FIIs owned 17.62 per cent, DIIs 2.39 per cent.