India's Oberoi Realty rises after Axis Capital upgrades to 'buy'

Oberoi Realty

08/04/2026 07:30

** Shares of Indian real estate developer Oberoi Realty OEBO.NS rise as much as 6.2% to its highest since January 19 at 1,657.80 rupees, last up 5%

** Axis Capital upgrades stock to "buy" from "add"; hikes PT to 1,875 rupees from 1,650 rupees

** Brokerage expects pre-sales growth to accelerate to a 33% compound annual rate over FY26–28, backed by a strong project pipeline and 480 billion rupees ($5.19 billion) worth of business development signed since FY24

** Construction cost inflation remains under control, while launches of several residential projects and the start of new commercial developments in FY27 should support medium-term growth - Axis Capital

** Co on Tuesday said the National Company Law Tribunal's Mumbai bench approved its scheme of merger with Nirmal Lifestyle

** YTD, OEBO down 1.5%

($1 = 92.5275 Indian rupees)

 (Reporting by Brijesh Patel in Bengaluru)

 ((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))