Buy Phoenix Mills with a target of Rs 500 – HSBC

HSBC has Buy call on Phoenix Mills Ltd. with a target price of Rs 500 . The current market price of Phoenix Mills Ltd. is 362.7 . Time period given by analyst is year when Phoenix Mills Ltd. price can reach defined target.
Phoenix Mills rental income grew 12% y-o-y even though demonetisation hurt sentiment. To benefit from rental renewals, new area additions, strong brands & falling cost of funds. Malls seeing traction as consumption & rental income growing at 20% for Pune & Bangalore.