Buy Oberoi Realty, target price Rs 960: Kotak Securities

Kotak Securities has buy call on Oberoi Realty with a target price of Rs 960. The current market price of Oberoi Realty Ltd. is Rs 930.4.

Oberoi Realty Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 33865.91 Crore) operating in Real Estate sector.

Oberoi Realty Ltd. key Products/Revenue Segments include Income from Project Development, Lease Rentals, Income from Hospitality and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 711.79 Crore, down -23.86 % from last quarter Total Income of Rs 934.81 Crore and down -7.38 % from last year same quarter Total Income of Rs 768.52 Crore. Company reported net profit after tax of Rs 218.04 Crore in latest quarter.


Investment Rationale
On daily chart, stock has formed a cup and handle chart pattern and breakout from the resistance

Promoter/FII Holdings
Promoters held 67.7 per cent stake in the company as of 30-Sep-2022, while FIIs owned 19.42 per cent, DIIs 11.78 per cent.