MARKET EYE-BofA-Merrill raises Indiabulls to 'buy'; stock gains

Wed Jan 30, 2013 9:54am IST

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

* Shares in Indiabulls Real Estate gain 2 percent
after Bank of America Merill Lynch upgrades the stock to "buy"
from "neutral" and raises its price objective to 100 rupees from
69 rupees.
* The investment bank cited better-than-expected sales bookings,
as well as optimism about new projects, including a luxury
project in central Mumbai as key reasons for the upgrade.
* BofA-Merrill expects the trend of better bookings to continue
with more projects lined up for launches in Gurgaon, located
near New Delhi and in the city of Chennai.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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

Telecom Sector

REUTERS SHOWCASE

Election 2014

Election 2014

Breakingviews: Singh wasn’t king, Modi could be  Full Article 

Quarterly Results

Quarterly Results

Ambuja net profit up 6.6 percent, expects recovery after elections  Full Article 

Conspiracy Lawsuit

Conspiracy Lawsuit

Apple, Google agree to pay over $300 million   Full Article 

Stock Split Trend

Stock Split Trend

Trend-setter Apple's stock split could bring out the copycats  Full Article 

Winning Start

Winning Start

Microsoft beats Wall Street on new CEO debut   Full Article 

Reuters India Mobile

Reuters India Mobile

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