Raksha Bandhan 2026: Sumeet Bagadia Recommends This Real Estate Stock To Buy On Rakhi; Here's Why

Raksha Bandhan, a festival of the beautiful bond between brothers and sisters, is going to be celebrated on August 28 across the country. The Indian stock market will be open for trading on Friday, and popular market analyst Sumeet Bagadia has recommended one real estate stock to buy on this auspicious day. This stock is called Prestige Estate, which is currently trading above Rs 1,600 levels apiece.

Raksha Bandhan: Stock To Buy

"PRESTIGE is showing a positive technical structure on the weekly chart after a strong recovery from lower levels. The stock is sustaining above its key moving averages, while the rising weekly trendline and the 50-week EMA are acting as important support levels. The recent consolidation near ₹1,600 indicates a possible base formation and could support further upside," said Sumeet Bagadia, Executive Director and Head of Research at Choice Broking.

In his technical outlook, Sumeet selects Prestige Estate as top choice to buy on the auspicious day of Rakhi. He explains that momentum in Prestige remains supportive with the weekly RSI placed around 58.05 and holding above the 50 level, reflecting improving buying strength.

"The stock is currently trading above its key weekly moving averages, highlighting positive trend alignment. A sustained move above the current consolidation zone could support a continuation of the ongoing recovery towards higher levels," said Bagadia in his note.

Accordingly, he suggests accumulating Prestige on dips towards Rs 1,615. He believes the stock has the potential to move towards Rs 1,810 to Rs 1,888 in the coming period.

On the downside, he said, the rising weekly trendline, the 50-week EMA, and Rs 1,520 support zone will remain important levels to watch. Holding above these supports will be crucial for maintaining the positive technical setup.

Prestige Estate Share Price:

After the closing bell on August 27, Prestige Estate shares ended at Rs 1,614.10 apiece on BSE, broadly flat. The stock has reached near Bagadia's dip level of Rs 1,615.

Prestige has a market cap of Rs 69,524.17 crore. The stock's 52-week high and low is at Rs 1,804.65 apiece and Rs 1,090.45 apiece respectively. As per BSE data, however, Prestige has a very high price-to-equity ratio of 383.40x, while its return on equity (RoE) is very low at 1.55%.

YTD, Prestige is up only near 1%. In past six-months, Prestige surged nearly 16%. Its one-year performance is marginal by 2%. But long-term historical performance makes Prestige a multibagger with gains of whopping 359% in 5-years span.

What Is The Overall Consensus On Prestige Estate Stock?

The consensus recommendation from 22 analysts for Prestige Estates is STRONG BUY, as per Trendlyne. Of the total, 16 analysts have suggested "STRONG BUY", while 4 have recommended "BUY". Only one analyst each have suggested "HOLD" or "SELL".

The consensus target for Prestige is Rs 1,892.14 for a 12-month period, which suggests that it has potential of nearly 17% upside ahead.

Analysts at Axis Direct this week in a report, stated that Prestige's management maintained a constructive outlook, reiterating confidence in achieving 15-20% pre-sales growth despite approval-related launch delays in Q1. Gross collections are guided at Rs 25,000 crore, supported by a robust launch pipeline across key markets over the next three quarters.

Further, they added that the company's business development spending is expected to remain around Rs 4,000 crore, while free cash flow generation should largely fund growth with only a modest increase in leverage.

Accordingly, on the valuation, analysts said, "Continued execution on launches, commercial leasing and approvals remains the key monitorable for sustaining growth momentum through FY27. We recommend a BUY on the stock with a target price of Rs 1,805/share."

About Prestige Estate Ltd:

Prestige Estate is engaged in developing real estate projects across the residential, office, retail, leisure, rental, and hospitality segments. The company has delivered approximately 300 real estate projects spanning 200 million square feet. Its project types include Apartment, Plot, and Villa.

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