Oberoi Realty - Premium developer becomes attractive - Kotak

A 30% correction over the past three months has made Oberoi a more attractive stock. Operational performance on ongoing projects is better than its peers but Oberoi has lagged on project additions. With the Mumbai real estate market undergoing stress (developer balance sheets), we believe Oberoi may complete some acquisitions in FY2014.

We upgrade Oberoi to BUY (from ADD) and maintain our 12-month price target of Rs307.

Source : Equity Bulls

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