Buy DLF With Target Of Rs 360

Buy DLF With Target Of Rs 360Stock market analyst Rahul Mohinder has maintained 'buy' rating on DLF Ltd stock with a target of Rs 360.

According to analyst, the stock has strong support around at Rs 330.

Mr. Mohinder also said that the said target can be attained in a period of one to two weeks.

The stock of the company, on Sep 15, closed at Rs 340.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 490.80 and a low of Rs 259 on BSE.

Current EPS & P/E ratio stood at 10.76 and 31.35 respectively.

As per fresh reports, the country's biggest realty developer, DLF Ltd may begin selling out residential apartments at its initial project in the Mumbai market by the end of this year (Dec 2010).

Mr. Saurabh Chawla, DLF's executive director for finance stated that the company has decided to construct 4 million square feet of homes on the land of former textile mill in central Mumbai.

He also said that company may start selling the residential apartments by this year.

Moreover, the company said that it will make an investment of around Rs 500 crore with the aim to set up three ultra-luxury housing projects in Goa, Shimla as well as Kasauli.

The sources stated that the company will build up arond 170 villas and 100 flats at these places under a novel brand, 'Sama'.

DLF will also construct two hotels at Kasauli and Goa.

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