Should you Buy, sell or hold DLF shares post Q1 results?

economictimes.indiatimes.com:

DLF reported a 12% year-on-year (YoY) jump in its June quarter net profit, Jefferies gave a 'Buy' while CLSA retained an 'Outperform' rating to the stock. Among domestic brokerages, Nuvama has a 'Buy' call while ICICI Securities recommended an 'Add'. Motilal Oswal took a 'Neutral' stance on the Gurgaon-based realtor.

The stock on Tuesday gained over 1% on the NSE to reach the day's high of Rs 498.95. On Friday, DLF reported a net profit of Rs 527 crore for Q1FY24 which was up from Rs 470 crore in the same period last year. Revenue from operations during the quarter, however, fell by a marginal 1% to Rs 1,423 crore in the June quarter.

The same stood at Rs 1,441 crore a year ago.This is what top brokerages recommended:Jefferies: Buy | Target: Rs 570Jefferies has a 'Buy' rating on DLF and a price target of Rs 570, raising it from an earlier target of Rs 510. It is a 15% upside over Monday's closing price of Rs 493. Higher pricing estimates in Gurgaon, strong cash flow performance and roll forward are reasons why Jefferies raised the price target.

«We appreciate the company's attempted geographic expansion and a success here could help stock trade at a premium to NAVs as well,» it said in a note.CLSA: Outperform | Target: Rs 547CLSA has downgraded the stock to 'Outperform'. The housing demand momentum continues with a strong new launch pipeline for H2. While demand for non-SEZ offices is strong, SEZ remains a concern.

The company re-entered Mumbai with a new project acquisition, which is positive. CLSA said that it has lifted the target price mainly on account of the Mumbai project.Nuvama: Buy | Target: Rs 593Nuvama has recommended a 'Buy' on DLF and calls this stock as its top pick in the realty space. DLF clocked Rs 2,040