Technical Analyst Sharad Avasthi of SKP Securities has maintained 'hold' rating on Unitech Ltd stock to achieve an intraday target of Rs 100.

According to analyst, the investors can attain the target in 12 months.

Today, the stock of the company opened at Rs 283.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 314.70 and a low of Rs 158 on BSE.

Current EPS & P/E ratio stood at 11 and 25.53 respectively.

Unitech declared that its March quarter net profit surged 44 times to Rs 144.87 crore as against Rs 3.29 crore during the same period last year.

A 50% increase in total income and around 83% drop in interest outgo were mentioned as the top reasons. These advancements also assisted Unitech to more than offset the increase in expenditures, which increased by 141% to Rs 425.85 crore.

Total income was Rs 675.84 crore as against Rs 449.29 crore. Interest outgo stood at Rs 45 crore, as compared to Rs 266 crore in the same quarter last year.

Unitech, Omkar, on May 31, announced that they have decided to cancel their joint venture for realty development in Mumbai.

Sources learnt that this is not the ending of its affiliation with Omkar.

In place of a JV, it will have a SPV approach with Omkar.