DLF has touched an intra day high of Rs 590 and an intra day low of Rs 567. Currently, the share is quoting at Rs 589.20, up Rs 17.45, or 3.05%. It is trading with volumes of 79,07,598 shares. Yesterday the share closed down 0.51% or Rs 2.95 at Rs 571.75. The company has now entered the elite club of Rs 1 lakh crore mark and it is the 10th company to enter this club.
Motilal Oswal has recommended a buy rating on DLF with target price of Rs 674. Target price is at a 25% premium to estimated NAV of Rs 539 per share. The company's recent IPO was the biggest in the country so far.
The reports indicate that DLF, India's largest real estate company, is the best proxy for playing the promising domestic real estate opportunity. We are excited about DLF’s dominant presence in emerging segments of premium apartments, commercial offices and retail, which are highly profitable businesses with strong entry barriers.
Thus, DLF is relatively better placed to face the challenging macro environment, which, in our opinion, will encourage lower risk premiums going forward.
No comments:
Post a Comment