Buy Dewan Housing Finance Corporation, target Rs 600: Manas Jaiswal

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Manas Jaiswal of manasjaiswal.com has a buy call on Dewan Housing Finance Corporation with a target price of Rs 600.

The current market price of Dewan Housing Finance Corporation is Rs 567.65.

Time period given by analyst is intraday when Dewan Housing Finance Corporation price can reach defined target.

Manas Jaiswal recommended to keep stoploss at Rs 554.

Dewan Housing Finance Corporation, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 17,798.70 Crore) operating in Finance sector.

Dewan Housing Finance Corporation key Products/Revenue Segments include Interest On Housing Loans which contributed Rs 7,922.47 Crore to Sales Value (89.50 per cent of Total Sales), Income From Sale Of Share & Securities which contributed Rs 447.81 Crore to Sales Value (5.05 per cent of Total Sales), Interest which contributed Rs 237.77 Crore to Sales Value (2.68 per cent of Total Sales), Other Services which contributed Rs 209.12 Crore to Sales Value (2.36 per cent of Total Sales), Dividend which contributed Rs 23.07 Crore to Sales Value (0.26 per cent of Total Sales) and Commission which contributed Rs 11.52 Crore to Sales Value (0.13 per cent of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2017, the company has reported a Standalone sales of Rs 2,406.58 Crore, up 1.31 per cent from last quarter Sales of Rs 2,375.36 Crore and up 22.89 per cent from last year same quarter Sales of Rs 1,958.28 Crore.

Company has reported net profit after tax of Rs 260.48 Crore in latest quarter.

The company’s top management includes Dr.Rajiv Kumar, Mr.Dheeraj Wadhawan, Mr.G P Kohli, Mr.Harshil Mehta, Mr.Kapil Wadhawan, Mr.Mannil Venugopalan, Mr.V K Chopra, Ms.Vijaya Sampath.

Company has Chaturvedi & Shah as its auditors.

As on 30-06-2017, the company has a total of 313,550,637 shares outstanding.

[“Source-economictimes”]