Parsvnath Developers Buy Call

Parsvnath Developers has informed the exchange that the company has been awarded Rs 90 crore contract to build SAI ASHRAM at SHIRDI.

The stock has touched an all time high of Rs 598 today. The intraday range for the stock has been Rs. 520 – 598.

Anil Manghnani of Modern Shares & Stock Brokers has suggested a buy call for the stock during an interview with Business News Channel CNBC TV-18. The stock is looking fundamentally strong. Parsvnath hasn’t performed as well compared to the other companies in real estate sector. Mr. Manghnani said, “My gut feeling is that you would probably see some sort of profit booking at this stage but now you can buy into every fall.”

TopNews has recommended Parsvnath Developers earlier as well and the stock is our pick for short to medium term. Other good stocks from Real estate sector are DLF, Unitech and Omaxe and Indiabulls Real estate.

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