Rajen Shah of Angel Broking feels the stock could see some action going forward. “At this price of Rs 315, at about 20 times, the stock is fairly priced,” he reasoned.
Shah told CNBC-TV18, “Oberoi Realty’s numbers were good; both topline and bottom have gone up more than 30 percent. At this price of Rs 315, at about 20 times the stock is fairly priced. The management is holding more than 75 percent. So, it has to bring it down and probably one could see qualified institutional placement (QIP) or something happening in the coming months and that could see the stock in action.”
“The other reason why Oberoi Realty could move is because 103 shareholders including the promoters own 99 percent of its equity. So, the floating stock in the market is less than 100 crore. Probably one could see some action there. Mahindra Lifespace Developers was a bit disappointing because of no new launches in this quarter. So, Mahindra Lifespace could react a bit,” Shah added.
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