Goldman upgrades DLF to 'buy' on upcoming projects

MUMBAI Thu Jan 24, 2013 10:11am IST

A man rides pass an advertisement of Indian property developer DLF Ltd. in Gurgaon June 11, 2007. REUTERS/Adnan Abidi/Files

A man rides pass an advertisement of Indian property developer DLF Ltd. in Gurgaon June 11, 2007.

Credit: Reuters/Adnan Abidi/Files

Related Topics

MUMBAI (Reuters) - Goldman Sachs upgraded its rating for DLF to "buy" from "neutral", citing upcoming residential project launches worth 130 billion rupees over the next three quarters.

The upcoming projects include residential developments in Gurgaon, close to the capital, New Delhi.

Goldman said DLF would also benefit from expected cuts in interest rates and continued debt reduction.

The investment bank raised its 12-month target price on DLF shares to 295 rupees from 224 rupees. The company's shares were down 1 percent at 248.8 rupees as of 10:11 a.m..

(Reporting by Manoj Dharra and Rafael Nam; Editing by Anupama Dwivedi)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Republic Day

Reuters Showcase

RK Laxman Dead

RK Laxman Dead

'Common Man' cartoonist RK Laxman dead at 93  Full Article 

Banking Revolution

Banking Revolution

India turns to corner shops, mobile phones for banking revolution.  Full Article 

Nuclear Group

Nuclear Group

China urges India to take steps to satisfy standards of NSG  Full Article 

Gold Market

Gold Market

Chinese gold demand holds up ahead of holiday, Indian buying weak  Full Article 

India-U.S. Relations

India-U.S. Relations

Column - U.S. and India should join to balance China's rise  Full Article 

Padma Bhushan

Padma Bhushan

India honours Bill Gates with civilian award  Full Article 

Fashionable Modi

Fashionable Modi

When Modi met Obama, his name was all over - his suit  Full Article 

New Greek PM

New Greek PM

Greek leftist Tsipras sworn in as PM to fight bailout terms  Full Article 

Australian Open

Australian Open

Venus fireworks illuminate Australia Day  Full Article 

Reuters India Mobile

Reuters India Mobile

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