DLF has target of Rs 300-310: Baliga

Ambareesh Baliga of Karvy Stock Broking is of the view that DLF has target of Rs 300-310.

Baliga told CNBC-TV18, "Basically the buyback announcements normally act as a trigger just for the very short while, just for a day or two possibly couple of sessions. But especially in a scenario like this it has acted as a trigger only for a day, very clearly the sector itself is going through a major downturn. The way we see it is I don’t think we have seen panic at the ground level that should happen possibly in the next couple of months as far as properties are concerned. So at that point of time you will see most of these stocks at much lower levels. In fact we have target price for DLF of closer to Rs 300-310 now."
 
Disclosure: Analyst doesn't have a personal holding in the above stock.