Mon Dec 30 09:50:00 UTC 2024: ## Indian Markets Flat as Holiday Season Dampens Trading; Oberoi Realty’s Alibaug Project Sparks Interest

**MUMBAI, INDIA** – Indian markets experienced a quiet Thursday, with trading volumes subdued due to the holiday season. While global markets typically see decreased activity during this time, analysts expect stock-specific movement in the coming week. Several public sector stocks, including IREDA, BEML, SAIL, Dredging Corporation, and NTPC Green Energy, saw declines, with NTPC Green Energy experiencing particularly high trading volume following the end of its anchor investor lock-in period.

However, a significant development in the real estate sector captured attention. Oberoi Realty announced a major expansion into Alibaug, acquiring an 81-acre plot for the development of a luxury five-star resort and approximately 150 branded serviced villas. This project, estimated to have a gross development value (GDV) between ₹4,000 crore and ₹5,000 crore, solidifies Oberoi Realty’s position in the premium real estate market.

Elara Capital maintained a ‘buy’ rating on Oberoi Realty stock, setting a target price of ₹2,350 per share, citing strong growth prospects and high profitability. The brokerage firm projects a 59 percent compound annual growth rate (CAGR) in pre-sales for FY24-FY26, fueled by this large-scale project and a robust pipeline. Oberoi Realty’s EBITDA margins remain impressive, reaching 48 percent for FY24 and 56 percent for H1 FY25.

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