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Buy Indiabulls Housing Finance, target Rs 1180: Pritesh Mehta

Buy Indiabulls Housing Finance Ltd. at a price target of Rs 1180.0 and a stop loss at Rs 1080 from entry point.

ETMarkets.com|
Jul 13, 2017, 01.27 PM IST
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Pritesh Mehta of IIFL has a buy call on Indiabulls Housing Finance with a target price of Rs 1,180.

The current market price of Indiabulls Housing Finance is Rs 1,128.05.

Time period given by analyst is intraday when Indiabulls Housing Finance price can reach defined target.

Pritesh Mehta recommended to keep stoploss at Rs 1,080.

Indiabulls Housing Finance, incorporated in the year 2005, is a Large Cap company (having a market cap of Rs 46,901.42 crore) operating in Finance sector.

Indiabulls Housing Finance key Products/Revenue Segments include Interest which contributed Rs 7560.05 crore to Sales Value (95.29 % of Total Sales), Loan Processing Charges which contributed Rs 298.14 crore to Sales Value (3.75 % of Total Sales), Fees & Other Charges which contributed Rs 43.39 crore to Sales Value (0.54 % of Total Sales), Other Operating Revenue which contributed Rs 16.30 crore to Sales Value (0.20 % of Total Sales) and Commission which contributed Rs 15.06 crore to Sales Value (0.18 % of Total Sales)for the year ending 31-Mar-2016.

For the quarter ended 31-03-2017, the company has reported a Consolidated sales of Rs 2931.40 crore, up 18.40% from last quarter Sales of Rs 2475.94 crore and up 22.10% from last year same quarter Sales of Rs 2400.87 crore.

The company’s top management includes Brig.(Retd)Labh Singh Sitara, Dr.Kamalesh Shailesh Chandra Chakrabarty, Justice(Retd)Bisheshwar Prasad Singh, Justice(Retd)Gyan Sudha Misra, Mr.Ajit Kumar Mittal, Mr.Ashwini Omprakash Kumar, Mr.Gagan Banga, Mr.Prem Prakash Mirdha, Mr.Sameer Gehlaut, Mr.Shamsher Singh Ahlawat, Mrs.Manjari Ashok Kacker. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2017, the company has a total of 420,656,631 shares outstanding.

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