Multibagger TARC share price rises 8% to all-time high: Ambit sees another 50% upside

Stock Market today: Multibagger TARC Ltd share price gained 8% to all-time high during intraday trades on Wednesday. The TARC share price that opened at ₹209.25, slightly higher than the previous close of ₹208.15, however gained more than 8% to scale 52-week high of ₹225 on Wednesday. TARC share price ended at ₹217.4 levels on the BSE, up 4.44%

TARC share price having gained 243% during last one year has given Multibagger returns to investors.

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The Anant Raj Corporation, or TARC Ltd., was founded as a construction and contracting business and has since grown well having developed large land banks and transformed to be a significantly big real estate development firm in the Delhi National capital region. TARC Limited with a large land bank of more than 500 acres is eyeing to become a large luxury housing developer highlighted Ambit Research , who remains bullish on the TARC prospects.

Ambit Research that has initiated coverage on TARC Ltd, sees almost 50% upside for the TARC stock trading at ₹217 levels. The target price for TARC share price is ₹325 as per Ambit.

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TARC continues to develop architecture and nurturing partnerships which alongside strategic prime land parcels are expected to drive pre-sales of over ₹15,000 crore (over FY25-FY27), as per Ambit estimates

further supported by strong cash flows, TARC is expected to deleverage balance sheet . The debt to equity ratio is expected to come down to 0.1 times in FY25 compared to 1 times in FY24 as per Ambit

Ambit Believes TARC at present is where DLF was in early 2000. If executed well will be a structural RE compounding play over next two decades.

While TARC will become Net debt free by FY26 . As deleveraging will provide a triggers, as per Ambit project additions and smooth delivery of launched projects will lead to rerating.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions