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

Wed Jan 30, 2013 9:54am IST

Related Topics

Stocks

   

* 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:

Fast-tracking Projects

REUTERS SHOWCASE

Oil Prices

Oil Prices

Oil resumes slide after brief rebound on short-covering.  Full Article 

Space Programme

Space Programme

ISRO tests its heaviest space launch vehicle, eyes global market   Full Article 

Coal India Strike

Coal India Strike

Coal India workers threaten five-day strike, stokes output worries  Full Article 

Gold Discount

Gold Discount

Dealers offer gold discount for first time in five months  Full Article 

Lakhvi Granted Bail

Lakhvi Granted Bail

Pakistan court bails man accused of masterminding Mumbai attack  Full Article 

GST Bill

GST Bill

Cabinet clears bill for nationwide goods and services tax.  Full Article 

Aviation Sector

Aviation Sector

Breakingviews: SpiceJet rescue is no fix for India aviation woes.  Full Article 

Global Economy

Global Economy

Fed confident on U.S. growth, opens door wider to rate hike.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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