Buy Oberoi Realty, target price Rs 660: ICICI Securities

ICICI Securities has buy call on with a target price of Rs 660. The current market price of Oberoi Realty Ltd. is Rs 605.65. Time period given by analyst is Intra Day when Oberoi Realty price can reach defined target.
Oberoi Realty Ltd., incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 22014.30 Crore) operating in Real Estate sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 800.87 Crore, down -4.38 % from last quarter Total Income of Rs 837.57 Crore and up 27.99 % from last year same quarter Total Income of Rs 625.73 Crore. Company reported net profit after tax of Rs 286.53 Crore in latest quarter.

Investment Rationale
Price breaking above falling channel containing last five months corrective decline and a faster retracement of the last falling segment

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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