Kolte - Patil share price jumps 6% after Motilal Oswal initiates coverage on stock
₹700, implying a 34 per cent upside. Kolte - Patil share price opened at ₹536 against its previous close of ₹517.45 and soon jumped almost 6 per cent to hit the level of ₹547.70.
Around 9:25 am, Kolte - Patil share price traded 5.80 per cent higher at ₹547.45 apiece. Kolte - Patil share price has clocked robust gains in the last one year.
As of the previous session's close, the stock has doubled investors' money, jumping about 101 per cent over a year. However, it has still underperformed the Nifty Realty index which has seen a whopping gain of 136 per cent in the same period.
Equity benchmark Nifty 50 has gained about 29 per cent over a year. "After a decade of muted performance, Kolte - Patil Developers is witnessing strong growth in pre-sales as bookings reported 36 per cent CAGR over FY21-23.
Given its strong pipeline, we believe the company can maintain a 25 per cent CAGR in pre-sales at least for the next two years with further room for growth from new project additions," said Motilal Oswal. (More to come)Milestone Alert!
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