Buy Sunteck Realty, target price Rs 515: Kotak Securities

Kotak Securities Limited has buy call on Sunteck Realty Ltd. with a target price of Rs 515. The current market price of Sunteck Realty Ltd. is Rs 492.5.

Time period given by analyst is Intra Day when Sunteck Realty Ltd. price can reach defined target.

Sunteck Realty Ltd., incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 7231.89 Crore) operating in Real Estate sector.


Sunteck Realty Ltd. key Products/Revenue Segments include Income from Sale of Commercial Flats, Shops & Plots, Other Operating Revenue, Rent, Sale of services and Project Management Fees for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 96.12 Crore, down -50.63 % from last quarter Total Income of Rs 194.67 Crore and up 39.49 % from last year same quarter Total Income of Rs 68.91 Crore. Company reported net profit after tax of Rs 4.39 Crore in latest quarter.

Investment Rationale
Stock is into an uptrend and breakout continuation formation is likely to persist in the coming horizon.

Promoter/FII Holdings
Promoters held 67.2 per cent stake in the company as of Dec 30, 2020, while FIIs held 23.6 per cent, DIIs 3.6 per cent and public and other 5.6 per cent.