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Last Updated : Aug 04, 2020 05:45 PM IST | Source: Moneycontrol.com

Buy Sunteck Realty; target of Rs 381: Anand Rathi

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.

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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.

For all recommendations report, click here

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First Published on Aug 4, 2020 05:45 pm