DLF Is Brilliant For Short Term Gains
DLF has declared the first quarter results and it records a net profit of Rs 1515.48 billion for the period ended June 30, 2007.
The company’s earning per share (EPS) stood at Rs 9.87, and its operating profit margin was at Rs. 56.4% in the first quarter of FY08.
Mr. Sanjiv Dhawan of JV Capital services said, “The result of DLF is very good indeed; they beat the higher side of the market expectations. Very important stock, one of the largest market Caps in a Sector, which is very important to the market these days. The management has spoken very positively as one would expect. ,” “we maintain and accumulate, buy on all declines for the stock for any medium to longer term investor.”
“I don’t know whether it is going to continue with the sort of pace it has had over the last one week in anticipation of this result which has come today. But certainly it is too big a stock to be ignored by the large investors and chances of getting to the sensex and nifty at some stage would definitely mean that any sharp correction in the stock would be used by investors to get in, so definitely a buy on any correction,” Mr. Dhawan added.
According to technical analyst, Rajat K Bose that DLF was down for a small time period but it recovered, now if it trade above Rs 652 the estimation for coming period was Rs 680. He recommends this stock for a short term period.