Oberoi Realty shares hit fresh 52-week high - Should you buy? Check target price by HDFC Securities

Oberoi Realty Share Price Target: Shares of Oberoi Realty Ltd (ORL) hits a fresh 52-week high on Friday. The counter opened in green at Rs 1729 and surged around 3.36 per cent to hit a fresh 52-week high of Rs 1,770.90 on the BSE. The scrip had closed at Rs 1,713. The stock has been gaining for the last six days.

The shares of Oberoi Realty, which has a market cap of 63,728 crore, have a 52-week low of Rs 883.60. Last seen the counter was trading at Rs 1,752.25. Oberoi Realty shares are trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

Oberoi Realty Share Price History

The shares have given a positive return of around 91 per cent in one year and 110 per cent in two years. The scrip has made investors wealthier by around 233.29 per cent in three years. 

Oberoi Realty Share Price Target

Brokerage firm HDFC Securities has maintained a 'buy' rating on the Oberoi Realty Ltd (ORL) stock with a target of Rs 1,833.

Oberoi Realty Q4 Results

Oberoi Realty has posted a 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.

Its net profit stood at Rs 480.29 crore in the year-ago period. Total income rose to Rs 1,558.56 crore in the quarter from Rs 995.11 crore in the year-ago period, according to a regulatory filing on Tuesday.

During 2023-24, the company's net profit increased to Rs 1,926.60 crore from Rs 1,904.54 crore in the preceding year. Total income rose to Rs 4,818.77 crore in the last fiscal from Rs 4,293.20 crore in 2022-23. Oberoi Realty is one of the leading developers in the country.