Buy HDIL; target Rs 63: IIFL

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Buy HDIL; target Rs 63: IIFL

IIFL is bullish on Housing Development and Infrastructure (HDIL) and has recommended buy rating on the stock with a target price of Rs 63 in its January 10, 2012 research report.

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RELATED NEWS Buy Axis Bank; target Rs 902: Nirmal Bang Sell Nifty future in 4770-4775 range: ICICIdirect.com India housing finance; undeterred by rough seas: Emkay ALSO READ See previous views by IIFL See what other Experts & Brokerages are saying about HDIL See messages about HDIL HDIL BSE | NSE 31/05/12 Are Mutual Funds betting on HDIL?

IIFL is bullish on Housing Development and Infrastructure (HDIL) and has recommended buy rating on the stock with a target price of Rs 63 in its January 10, 2012 research report.

"HDIL has given an upside breakout after consolidating in rounding bottom formation which resembles bullish structure. Also, the stock gave a close above its short-term moving averages. Breakout is also seen in daily RSI after formation of rounding bottom, this provide supplementary evidence of sustainable upmove in the counter and stock is likely to head towards Rs 64 in the medium term. We advise buying the stock above Rs 59 with stop loss of Rs 57 for an immediate target of Rs 63. (Duration 5 days)," says IIFL research report.

Institutional holding more than 40% in Indian cos

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