Anand Rathi is bullish on Sunteck Realty has recommended buy rating on the stock with a target price of Rs 381 in its research report dated July 30, 2020.
Anand Rathi 's research report on Sunteck Realty
Sunteck’s last two quarters’ bookings were strong (Q4 FY20, Naigaon new-phase launch) to comforting (Q1 FY21, the digital sales platform launch during the lockdown). Collections, though, left us desiring better. Here, greater traction at ready/near-complete inventory; recommenced construction would help. Ahead, the immediate future is expected to be challenging as Covid persists, but a well-set balance sheet and access to ready/near-complete inventory set the stage for Sunteck to be a beneficiary of market consolidation.
Success with planned new key launches should also help. We raise our rating to a Buy on the recent correction, but lower the TP to `381 (`465 earlier) to factor in the Covid-led challenges.
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