Buy Brigade Enterprises; target of Rs 600: ICICI Direct

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ICICI Direct's research report on Brigade Enterprises

Brigade Enterprises (BEL) is one of the leading property developers in South India. Its offerings include Grade-A commercial property, affordable to ultra-premium housing in real estate business and operational marquee hotel assets in the hospitality segment.

Outlook

We maintain our BUY rating on the company. Apart from robust residential sales volumes traction, we expect a recovery in commercial and rebound in retail/hospitality to provide the next leg of upsides We value BEL at Rs 600/share.

More Info on Trent

At 17:30 Brigade Enterprises was quoting at Rs 496.15, down Rs 9.85, or 1.95 percent.

It has touched an intraday high of Rs 511.10 and an intraday low of Rs 484.10.

It was trading with volumes of 25,900 shares, compared to its thirty day average of 29,214 shares, a decrease of -11.34 percent.

In the previous trading session, the share closed down 3.67 percent or Rs 19.30 at Rs 506.00.

The share touched its 52-week high Rs 542.90 and 52-week low Rs 230.90 on 04 February, 2022 and 23 April, 2021, respectively.

Currently, it is trading 8.61 percent below its 52-week high and 114.88 percent above its 52-week low.

Market capitalisation stands at Rs 11,424.48 crore.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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