ICICI Securities Picks Mid Cap Real Estate Stock To Buy For Lucrative Return

ICICI Securities has recommended investors to buy mid cap real estate sector stock, The Phoenix Mills Ltd. The stock is showing potential to surge and the analyst has assigned a target price of Rs 1645 per share. Current market price of the stock that delivered return of 72% in last 2-years is Rs 1291.50 apiece. If you buy Phoenix Mills Ltd share now, you can obtain potential return of 27%. Check details below:

Phoenix Mills Stock Performance: Current market price of Phoenix Mills Ltd is Rs 1291.50 apiece with intraday surge of 0.73%. The stock's 52-week high price is Rs 1620.00 apiece and 52-week low price is Rs 954.75 apiece, respectively. The company's market capitalisation is Rs 23,067.35 crore.

Phoenix Mills Return & Financial Outlook: The stock offered attractive returns to investors with 17% return in last 1-year. It offered 132% return in last 3-years, 125% return in last 5-years span, and it jumped 413% in last 10-years. The company for the quarter ended December 31, 2022 declared its consolidated total income at Rs 718.57 crore, up 5.13% from last quarter total income of Rs 683.50 crore. It declared its net profit after tax at Rs 212.40 crore in latest quarter.

Phoenix Mills About: The Phoenix Mills Ltd carved a niche for itself in the Indian real estate sector, be it mega retail malls, entertainment complexes, commercial spaces or hospitality units. Its operations span across most aspects of real estate development; planning, execution, marketing, management, maintenance & sales, according to its official website. The company was incorporated in 1905.

Disclaimer: The stock has been picked from the brokerage report of ICICI Securities. 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.