stock market today Small-cap realty stock Emami Realty hits 52-week high today 70.20 each level. Emami Realty share price opened today at the close of Friday on NSE and soon attracted the attention of the bulls and hit an intraday high. 70.20 per share level and made a new 52-week high. Buoyed by the response from the markets in the first session of the week, the company’s management said that the market is recognizing its efforts which are aimed at reducing its debt in the times to come. They have recently announced to increase their sales by about 50 per cent in FY 2013 as the demand in the sector is gaining momentum post-covid and the price of new projects is increasing almost. 1,000 crore ready for launch in FY2022-23.
As Emami Realty shares hit new 52-week high, Nitesh Kumar, MD & CEO, Emami Realty said, “In the near-term 500 crore sales in the financial year ended this March, we expect a top line 750 crore from standalone operations in the current financial year. During the financial year, projects including joint ventures were created 1,180 crore in revenue. a combined revenue of 950 crore was generated in FY 2012, an increase of 85 per cent over FY 2011. In addition, the company plans to launch new projects 1,000 crore in the current financial year. Our plan is to monetize our old land banks by starting new projects and disbursing the existing ones is also warmly taken by our investors.” He added that most of these steps and goals are mainly to reduce the debt of the company. Is.
As of March 2022, the debt level of Emami Realty was reduced from 118 crores 264 crores. “Our target is to come out of all long-term debt by 2023-24 and expect a top line of approximately 6000 crores including joint ventures in the next 5 years,” claimed Nitish Kumar.
speaking on the point of view of Shares of Emami RealtySumeet Bagadiya, Executive Director, Choice Broking said, “The stock is looking good on the chart pattern and realty stock is already in momentum. My suggestion to the stock shareholders is to continue with the stock with a strop loss. 62. After giving breakout above 70 each level on closing basis, stock may go up 80 to 90 in the next one to two months.
“Those looking to take fresh positions in the counter are advised to wait for an upside breakout Buy on a closing basis and target of 71 from 90 100 in the short term,” said Anuj Gupta, Vice President – Research at IIFL Securities.
Emami Realty is a small-cap stock with a market cap of 259 crores. Its current trading volume is 43,238 which is much higher than its last 20 days average trading volume of 29,917. Emami Realty hits 52-week high now 70.20 per share while the book value per share is 33.68.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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