Buy Housing and Urban Development Corporation, target price Rs 77: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on Housing and Urban Development Corporation with a target price of Rs 77. The current market price of Housing and Urban Development Corporation is Rs 72.55. Motilal Oswal Financial Services recommended to keep stop loss at Rs 71.

Housing and Urban Development Corporation, incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 14743.99 Crore) operating in NBFC sector.

Housing and Urban Development Corporation key Products/Revenue Segments include Interest, Rental Income, Income From Sale Of Share & Securities, Fees & Commission Income, Sale of services and Dividend for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1851.27 Crore, down -.60 % from last quarter Total Income of Rs 1862.41 Crore and up 5.35 % from last year same quarter Total Income of Rs 1757.32 Crore. Company has reported net profit after tax of Rs 445.70 Crore in latest quarter.

Investment Rationale
Surpassed its multiple previous resistance zone and taking support at its 50 DEMA.

Promoter/FII Holdings
Promoters held 81.81 per cent stake in the company as of 30-Jun-2023, while FIIs owned 0.32 per cent, DIIs 7.17 per cent.