HDIL Cmp Rs.235 HDIL has broken Triple top of Rs.235 and closed above it with good volumes and past 3week the stock has managed to week on week higher close and stock being in oversold zone can give a pullback till Rs,260 or above also and traders should have strict stop loss also Rs.221 would be strict one on tradable basis(Sustainable) as nowadays many freak trade happen
HDIL with Book Value of Rs 195 EPS Rs 18.23 P/E 13 is attractively priced and with Mumbai High court order benefiting the company more
Event:
Mumbai High Court has set aside Maharashtra state government proposal to increase the FSI from 1 to 1.33.
Impact:
This will work positively for HDIL. Assuming the maximum FSI is maintained at 2 (since there is no mention on lowering the upper cap on FSI); this will increase demand for TDR. HDIL being one of the biggest players in TDR market is set to gain from this event. The Maharashtra government is considering filing a petition to challenge yesterday’s Bombay High court order dismissing the increase in floor space index (FSI) of 0.33 in suburban Mumbai.
