India's Oberoi Realty hits record high after Axis Securities begins with 'buy'
** Shares of real estate developer Oberoi Realty OEBO.NS rise as much as 7.8% to a record high of 2,281.80 rupees
** Stock last up 6.7%; top pct. gainer among realty stocks .NIFTYREAL
** Axis Securities initiates coverage on OEBO with "buy" rating and Street's second-highest PT of 2,560 rupees
** Brokerage likes company's dominance in Mumbai's luxury real estate market and the brand's ability to command higher realisations
* OEBO's strong cash flows, high margins and low leverage will not only help it grow, but also "weather difficult periods effectively" - Axis
** More than 3.1 mln shares traded, ~2 times the 30-day avg volume - LSEG data
** OEBO is the only stock on the 10-member Nifty Realty .NIFTYREAL index that has the average rating of "hold"; rest rated "buy" or higher - LSEG data
** OEBO up ~57% YTD vs a 43% gain in the realty index
Reporting by Nandan Mandayam in Bengaluru
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
