Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 10897.07 Crore) operating in Real Estate sector.
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Promoters held 48.3 per cent stake in the company as of June 30, 2020, while FIIs held 26.2 per cent, DIIs 12.7 per cent and public and others 12.8 per cent.
Motilal Oswal has given buy rating to Phoenix Mills with a target price of Rs 746. The share price moved down by 0.27 per cent from its previous close of Rs 632.35. The stock’s last traded price is Rs 630.65.
Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 10897.07 Crore) operating in Real Estate sector.
Financials For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 134.71 Crore, down 66.26 % from last quarter Sales of Rs 399.24 Crore and down -78.10 % from last year same quarter Sales of Rs 615.04 Crore. The Company reported net profit after tax of Rs -50.51 Crore in latest quarter.
Investment Rationale Phoenix Mills remains one of the best proxy plays on India’s consumption story in the medium-to-long term. The brokerage maintains Buy owing to a favorable risk-reward having SOTP-based target price of Rs 746. Promoter/FII Holdings Promoters held 48.3 per cent stake in the company as of June 30, 2020, while FIIs held 26.2 per cent, DIIs 12.7 per cent and public and others 12.8 per cent.
