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:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

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