Moneycontrol
Jul 14, 2017 03:23 PM IST | Source: Moneycontrol.com

Buy Housing and Urban Development Corporation; target of Rs 112: ICICI Direct

ICICI Direct has recommended buy rating on Housing and Urban Development Corporation with a target price of Rs 112 in its research report dated July 13, 2017.

Buy Housing and Urban Development Corporation; target of Rs 112: ICICI Direct

ICICI Direct’s research report on Housing and Urban Development Corporation

Hudco,a  Miniratna  company,plays  a key  role  in  various  government schemes  to  develop  Indian  housing & urban  infrastructure.  It  is  the  only institutional lender in housing development for government and may be a key beneficiary of the government’spush towards affordable housing.


Outlook


At |97, the stock is available at ~1.7x FY19E  ABV.Even at 2-2.2x FY19EABV,which is at discount to retail housing peers (2.5-5x FY19E ABV), the stock can be expected to reach |112-123 from 12-15 months perspective.

For all recommendations report, click here


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