In today’s briefing:
- Barratt Redrow Plc, the Land Banker
- EQD | NIFTY’s Uncertainty: The Rally Could Pause for 1 More Week
Barratt Redrow Plc, the Land Banker
- The slowdown in the house market in the UK in the last 12 months has increased the likelihood of seeing more consolidation in the house-building sector.
- Redrow’s 24,565 plots have attracted a large buyer paying (with paper) a hefty premium to secure land. The land bank should cover house building production for just over four years.
- I believe the deal will ultimately succeed, although the CMA may take a closer look thus delaying the deal beyond H2 2024. Gross spread is 3.4%.
EQD | NIFTY’s Uncertainty: The Rally Could Pause for 1 More Week
- The NIFTY Index was supposed to continue its rally but has stalled a bit this week.
- This modest pullback could be a buy-the-dip opportunity, based on our WEEKLY models reading.
- The price support area to buy is between the Last WEEKLY Close and 21229.
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