Buy Indiabulls Housing Finance, target price Rs 250: IIFL

IIFL has buy call on Indiabulls Housing Finance with a target price of Rs 250. The current market price of Indiabulls Housing Finance Ltd. is Rs 231.5.

Indiabulls Housing Finance Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 10687.19 Crore) operating in NBFC sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2533.66 Crore, down 1.59 % from last quarter Sales of Rs 2574.59 Crore and down 25.91 % from last year same quarter Sales of Rs 3419.54 Crore. Company reported net profit after tax of Rs 323.20 Crore in latest quarter.


Investment Rationale
Stock is on the verge of giving a consolidation breakout.