Oberoi Realty hits all-time high after brokerages raise target prices post-Q4 results. Should you buy?

JPMorgan has maintained a neutral call with an increase of Rs 350 in target to Rs 1,500. 

Jefferies has maintained a hold rating on Oberoi Realty. The brokerage has raised the target by Rs 207 to Rs 1,548. 

Morgan Stanley has retained an underweight call with a raised target of Rs 1,300 from Rs 1,180 earlier. 

CLSA has maintained a sell rating on Oberoi Realty. However, the brokerage has raised the target to Rs 1,260 from Rs 1,200. 

Citi has maintained a neutral call on Oberoi Realty. The brokerage has increased the target to Rs 1,649 from Rs 1,419.

Oberoi Realty Q4 results

Oberoi Realty posted 64 per cent increase in consolidated net profit at Rs 788.03 crore for March quarter FY24 and announced plans to raise up to Rs 4,000 crore through issuance of equity shares and non-convertible debentures.

Oberoi Realty dividend

Oberoi Realty recommended a final dividend of Rs. 2 (Rupees Two only) per equity share i.e. 20% of the face value of equity share of Rs.10 each for the financial year ended March 31, 2024. subject to the approval of the members of the Company

Oberoi Realty share price today 

Oberoi Realty shares on Thursday, May 16 gained as much as 9.8 per cent to hit an all-time high of Rs 1,730 on BSE, surpassing the ealier peak of record Rs 1,629.15 in the previous session. 

Oberoi Realty dividend record date 

"The record date w.r.t. said final dividend shall be intimated in due course," the filing said.

The board has passed a resolution for issuance of non-convertible debentures up to an aggregate amount of Rs 2,000 crore by way of private placement, in one or more tranche.

It also passed a resolution for issuance of equity shares or securities for an aggregate amount of up to Rs 2,000 crore by way of one or more qualified institutions placement, public and/or private offerings.

With PTI inputs 

Image: Official website and others

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)