EMBASSY : Expecting a rally in the scrip

4 ago 2023

Although the valuation is a bit high, the financial performance of the REIT is good.

While looking into the share holding pattern also we can see that both the FIIs and DIIs are showing interest in the REIT and I see that also as a positive sign.

They are planning to lease 6 million square ft of office space in FY24.

And technically also, in a favourable level. So I'm taking a position in the current levels and will add on to the position if it falls to the low of the channel as mentioned in the chart.

I'm targeting the high of the channel for a profit of around 35% of capital involved.

Further details will be updated underneath.

4 ago 2023

Trade attivo

Bought around 167 shares at a price of 300.

4 ago 2023

Nota

Only four REITs are listed on the Indian stock exchanges, of which three are backed by office assets and one backed by retail (shopping mall) properties.

The three listed office-backed REITs are Embassy Office Parks REIT, Mindspace Business Parks REIT and Brookfield India Real Estate Trust. Nexus Select Trust, which got recently listed on bourses, is India's first retail-asset-backed REIT.

Among these, Mindspace and Brookfield have some red flags since the promotors of both those REITs have pledged their holding. Mindspace also have a zero score in Growth as per TickerTape. Nexus Select Trust was listed very recently and is not backed by office assets. So it doesn't interest me.

So EMBASSY is the only option left when compared with the competitors.