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Sell Indiabulls Housing Finance target Rs 1,105: Pritesh Mehta

Sell Indiabulls Housing Finance at a price target of Rs 1,105 and a stoploss at Rs 1,180 from entry point.

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Last Updated: Aug 10, 2017, 12.53 PM IST|Original: Aug 10, 2017, 12.53 PM IST
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Pritesh Mehta of IIFL has sell call on Indiabulls Housing Finance with a target price of Rs 1,105.

The current market price of Indiabulls Housing Finance is Rs 1164.

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

Pritesh Mehta recommended to keep stoploss at Rs 1,180.

Indiabulls Housing Finance, incorporated in the year 2005, is a Large Cap company (having a market cap of Rs 49,239.17 crore) operating in Finance sector.

Indiabulls Housing Finance key Products/Revenue Segments include Interest which contributed Rs 7,560.05 crore to Sales Value (95.29 per cent of Total Sales), Loan Processing Charges which contributed Rs 298.14 crore to Sales Value (3.75 per cent of Total Sales), Fees & Other Charges which contributed Rs 43.39 crore to Sales Value (0.54 per cent of Total Sales), Other Operating Revenue which contributed Rs 16.30 crore to Sales Value (0.20 per cent of Total Sales) and Commission which contributed Rs 15.06 crore to Sales Value (0.18 per cent of Total Sales)for the year ending 31-Mar-2016.

For the quarter ended 30-06-2017, the company has reported a Consolidated sales of Rs 2,955.99 crore, up .84 per cent from last quarter Sales of Rs 2,931.40 crore and up 30.72 per cent from last year same quarter Sales of Rs 2,261.34 crore.

Company has reported net profit after tax of Rs 783.62 crore in latest quarter. 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 30-06-2017, the company has a total of 424,347,600 shares outstanding.
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