Buy Call: ICICI Direct Bets On 2 Real Estate Players For 22% Return, 30% Dividend

ICICI Direct has assigned buy call to 2 real estate sector players namely Sobha Limited and Brigade Enterprises. Board of directors of Sobha Limited and Brigade Enterprises have recommended dividend as well. If you buy these two stocks now, you can fetch maximum potential return of 22%. Check details below:

1. Buy Sobha Limited: ICICI Direct has given buy call to Sobha Limited with target price of Rs 680 per share. If you buy Sobha Limited share now, you can get potential return of 22%. The analyst has given a time period of 12-18 months when the stock will reach the specified target price. Current market price of Sobha Limited share is Rs 558.85 per share with intraday gain of 7.40% as of June 1, 2023.

Board of directors of the company recommended Rs 3.00/- per equity share dividend on May 29, 2023.

According to ICICI Direct, "Sobha's share price has grown by merely 12% over the past five years given the debt and relatively muted sales momentum in the past. The consistency in sales volumes, collections and debt reduction is likely to be a key trigger for rerating. We maintain our BUY rating. We value Sobha at Rs 680/share.

Sobha Limited Stock Performance & Return: Sobha Limited share price on BSE is quoted at Rs 558.85 apiece. Its 52-week high price is quoted at Rs 750.00 per share and 52-week low price is Rs 412.40 per share, respectively. Its market capitalisation is Rs 5,300.46 crore. In last 6-months, Sobha Limited share declined 10%, gave return of 1.32% in last 1-year, 13% return in last 2-years, and 180% return in last 3-years.

2. Brigade Enterprises Valuation: ICICI Direct has assigned buy rating to Brigade Enterprises with target price of Rs 650 per share. Current market price is Rs 569.60 per share. If you buy Brigade Enterprises shares now, you can obtain potential upside of 14%.

The board of directors of Brigade has recommended a final dividend of Rs 2/- per equity share.

Brigade Enterprises Stock Performance & Return: Last trading price of Brigade Enterprises on BSE is Rs 569.60 per share. Its 52-week high price is Rs 585.00 per share and 52-week low price is Rs 425.60 per share, respectively. Its market capitalisation is Rs 13,145.94 crore.

Brigade Enterprises share gave return of 24% in last 1-year, 119% in last 2-years, and 448% in last 3-years.

Disclaimer: The stocks have been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.