Real Estate stocks to Buy – Expert Nilesh Jain sees major upside in Godrej Properties; tells this about Sobha share price as it touches 52-week high

The real estate sector has been stable over the last 6 months with renewed vigour in residential sales, Technical Analyst Nilesh Jain Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking said. He said that the sales have picked up on the back of historically low interest rates on home loans and the need for a bigger office space in homes amid the Work From Home (WFH) trend which has picked up with the aftermath of the Coronavirus Pandemic. With resurgence of the virus again in the country and work from home situation getting back, the sector could see a fresh impetus, he added.  

Top Stocks to Buy – Godrej Properties – The analyst is bullish on Godrej Properties and chooses this stock for investors for handsome returns. The AVP said that Godrej Properties has seen strong sales numbers. This stock is undergoing some consolidation after achieving a high of Rs 1572.25 this year on 1 March 2021. This stock has had a pretty strong rally over the past 6 months after it hit a low of Rs 575 on 19 May 2020, Jain said. 

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Jain said that Godrej Properties stock has a strong support around Rs 1310.  

Investors who want to make a fresh position in this stock can buy it at current levels or even at further dips. He puts the stop loss at Rs 1310. An upside from here is expected, he said. He puts the target price between Rs 1450 and Rs 1500. 

Today, Godrej Properties stocks ended at Rs 1368, down by almost 0.2 per cent from the previous closing price of Tuesday.          

Top Stocks to Buy – Sobha Limited – This stock achieved a 52-week high on the NSE and BSE. While the stock ended at Rs 498.85 on the NSE on Wednesday, it touched a high of Rs 519.80. It ended up by 0.5 per cent from the last closing price. 

Jain said that while Sobha traded in the green today, there was some profit booking seen in this counter. If the investors want to make any fresh position in this stock, the right levels are Rs 480, he further said. The risk-to-reward ratio is highest at this level, he added.  

Jain put the stop loss at Rs 450, while giving two targets – one at Rs 525 and the other at Rs 550.