Buy Oberoi Realty, target price Rs 1150: Shrikant Chouhan

Promoters held 67.7 per cent stake in the company as of 30-Jun-2023, while FIIs owned 18.17 per cent, DIIs 11.24 per cent.

By ETMarkets.com | Updated: Jul 28, 2023, 09.53 AM IST

Trading into a rising channel pattern with a higher high and higher low formation on the weekly scale.

Shrikant Chouhan of Kotak Securities has buy call on Oberoi Realty with a target price of Rs 1150. The current market price of Oberoi Realty is Rs 1109.15. Shrikant Chouhan recommended to keep stop loss at Rs 1090.

Oberoi Realty, incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 40505.29 Crore) operating in Real Estate sector.

Oberoi Realty key Products/Revenue Segments include Income from Project Development, Lease Rentals, Income from Hospitality and Other Operating Revenue for the year ending 31-Mar-2023.

Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 995.11 Crore, down -39.75 % from last quarter Total Income of Rs 1651.50 Crore and up 18.05 % from last year same quarter Total Income of Rs 842.94 Crore. Company has reported net profit after tax of Rs 420.20 Crore in latest quarter.

Investment Rationale
Trading into a rising channel pattern with a higher high and higher low formation on the weekly scale.

Promoter/FII Holdings
Promoters held 67.7 per cent stake in the company as of 30-Jun-2023, while FIIs owned 18.17 per cent, DIIs 11.24 per cent.

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