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Hold Oberoi Realty, target Rs 550: ICICI Direct

Hold Oberoi Realty Ltd. at a price target of Rs 550.

ETMarkets.com|
Updated: Apr 30, 2018, 10.39 AM IST
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ICICI Direct has hold call on Oberoi Realty Ltd. with a target price of Rs 550. The current market price of Oberoi Realty Ltd. is Rs 566. Time period given by analyst is year when Oberoi Realty Ltd. price can reach defined target.
Oberoi Realty Ltd., incorporated in the year 1998, is a large-cap company with a market cap of Rs 18520.21 Crore) operating in Construction sector.


Investment rationale by ICICI Direct: We like the company given the quality of land bank, its healthy balance sheet and management bandwidth to execute large projects. However, the sales momentum for ORL has been sluggish. Also, the stock has run up ~41% in the last one year. Hence, we await a better entry point. Consequently, we continue to maintain our HOLD recommendation on the stock with a revised target price of Rs 550.
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Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

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