Buy Oberoi Realty, target price Rs 600: IIFL

Buy Oberoi Realty, target price Rs 600:  IIFL

IIFL has buy call on Oberoi Realty with a target price of Rs 600. The current market price of Oberoi Realty is Rs 568.05.

Oberoi Realty Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 20650.79 Crore) operating in Real Estate sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 316.06 Crore, up 167.80 % from last quarter Sales of Rs 118.02 Crore and down -35.69 % from last year same quarter Sales of Rs 491.45 Crore Company reported net profit after tax of Rs 136.14 Crore in latest quarter.

Investment Rationale
Stock has given a bullish golden crossover (89/200 DEMA) breakout on the daily chart.

Promoter/FII Holdings
Promoters held 35.8 per cent stake in the company as of June 30, 2020, while FIIs held 39.6 per cent, DIIs 13.2 per cent and public and others 11.3 per cent.

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