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Budget 2022: Anil Singhvi is bullish on this Tata Group real estate stock; gives 3 targets, shares surge 13% amid strong volume
Ahead of the Union Budget 2022 to be presented by the Finance Minister Nirmala Sitharaman on February 1, Zee Business Managing Editor Anil Singhvi is bullish on a Tata Group stock that caters to real estate sector.
Ahead of the Union Budget 2022 to be presented by the Finance Minister Nirmala Sitharaman on February 1, Zee Business Managing Editor Anil Singhvi is bullish on a Tata Group stock that caters to real estate sector. Anil Singhvi said this share has limited downside and with real estate sector likely to be in focus in the Budget, this Tata Group share can show good upside in near future.
Picking Hemisphere Properties India Ltd, Anil Singhvi said current boom in real estate sector is likely to help this share. " Besides, the company boasts of huge land bank. The company claims to have a land bank size of nearly 750 acre, which is a big boost for the company. With this huge land bank across the country, this Tata Group realty stock can benefit big time if the government decides to give some concession on tax related to this sector. There is very less to lose in this stock, however, this scrip promises good upside from current levels," said Anil Singhvi.
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Furthermore, Tata Group has 22.5% stake in Hemisphere Properties India, said Singhvi.
आपके बजट में सस्ता शेयर
अनिल सिंघवी को Hemisphere Properties India किन वजहों से पसंद हैं ?#Budget2022 में क्यों होगा इसपर फोकस?
— Zee Business (@ZeeBusiness) January 18, 2022
Zee Business Managing Editor gave three targets for this share—Rs 180, Rs 200 and Rs 250. " "This is a boring stock. It is like Mazagon Dock Shipbuilders and similar stocks which do not consistently show good run, however, once there is movement it beats all expectations. This is a kind of stock that one can have in their portfolio without bothering much about its future. This can generate very good returns once there is some action in such stocks.
Talking about chart patterns of Hemisphere Properties India Ltd this Kiran Jadhav, CMD, Kiran Jadhav & Asso. LLP, on Tuesday said that medium term chart pattern is very strong as far as outlook of this real estate share is concerned. "This stock has been trading in a channel in the last few days. Higher end of this channel is RS 160. The stock is very likely to give a big breakout above Rs 160. It has already shown breakout in short-term chart. For now, one can put a stoploss of Rs 140 and maintain long position in Hemisphere Properties. Investors are advised to buy aggressively above Rs 160. There will be there levels with respect to targets in this stock—Rs 160, Rs 190 and Rs 200," added Kiran Jadhav.
At 1.45 pm, shares of Hemisphere Properties were trading with over 13 per cent gains to Rs 155.45, up Rs 18.25, per share on the BSE.
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