JPMorgan upgrades DLF; shares surge over 7 percent

Mon Jan 14, 2013 3:52pm IST

Employees from the electricity board work on overhead cables installed in front of the residential apartments constructed by Indian property developer DLF at Gurgaon, on the outskirts of New Delhi, June 19, 2012. REUTERS/Parivartan Sharma/Files

Employees from the electricity board work on overhead cables installed in front of the residential apartments constructed by Indian property developer DLF at Gurgaon, on the outskirts of New Delhi, June 19, 2012.

Credit: Reuters/Parivartan Sharma/Files

Related Topics

Stocks

   

Reuters Market Eye - J.P.Morgan has upgraded property developer DLF Ltd(DLF.NS) to "overweight" from "neutral" and raised its target price to 300 rupees from 220 rupees.

The investment banker says DLF stands to benefit from debt reduction and the launch of luxury projects in Gurgaon, a suburb of New Delhi.

J.P.Morgan says DLF shares will also gain on additional traction in asset sales and expected interest rate cuts.

DLF shares ended up 7.3 percent at 247.20 rupees.

(Reporting by Manoj Dharra)

FILED UNDER:

Reuters Showcase

Markets Weekahead

Markets Weekahead

Focus on sectors which will build India: Ambareesh Baliga.  Full Article 

FMC-SEBI Merger

FMC-SEBI Merger

Regulatory shakeup could revive commodities markets   Full Article 

Tax Incentives

Tax Incentives

Budget woos foreign investors  Full Article 

Excise Duty

Excise Duty

Cigarette makers fall after budget hikes excise duty  Full Article 

Welcoming the Budget

Welcoming the Budget

India Inc cheers corporate tax cut, simpler rules  Full Article 

Gold Price

Gold Price

Gold prices to rise after budget keeps import duty high  Full Article 

Fuel Prices

Fuel Prices

IOC to raise diesel, petrol prices from Sunday  Full Article 

Moody's on Budget

Moody's on Budget

Budget "credit neutral" from a ratings perspective - Moody's   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage