Multibagger Stock: Shares of TARC Ltd rose 8% to touch an all-time high during intraday trade on Wednesday. Shares of TARC opened at ₹209.25 today, marginally higher than its previous close of ₹208.15. However, it rose over 8% to touch a 52-week high of ₹225 on Wednesday. Shares of TARC rose 4.44% to close at ₹217.4 on the BSE. TARC’s share price has gained 243% in the last one year, giving investors multibagger returns.
What is the target price?
Ambit Research initiated coverage on TARC Limited. TARC sees an upside of about 50% in the stock at the ₹217 level. According to Ambit, TARC stock has a price target of ₹325. As per Ambit’s estimates, TARC continues to scale up architectural developments and partnerships, with strategic prime land parcels expected to generate pre-sales of ₹15,000 crore (over FY25-FY27). TARC is expected to deleverage its balance sheet, supported by stronger cash flows. Ambit expects the debt-equity ratio to decline from 1x in FY2014 to 0.1x in FY2015. TARC will be loan free by FY26.
The stock could go as high as ₹35, now priced 94% cheaper, say experts – buy
The company got a huge order of ₹1017 crore, looted to buy shares, the price was at a record high.
Company business
Anant Raj Corporation or TARC Limited was established as a construction and contracting business and has since grown well with major land banks and transformed into a significant major real estate development firm in the Delhi National Capital Region. With a vast land bank of over 500 acres, TARC Limited is focused on becoming a large scale luxury housing developer.