DLF gains on hopes of earnings recovery, lower debt

Mon Feb 18, 2013 2:15pm IST

A man cycles past the construction site of a residential apartment building by property developer DLF Ltd. in Gurgaon January 27, 2010. REUTERS/Adnan Abidi/Files

A man cycles past the construction site of a residential apartment building by property developer DLF Ltd. in Gurgaon January 27, 2010.

Credit: Reuters/Adnan Abidi/Files

Related Topics

Stocks

   

Reuters Market Eye - Shares in DLF Ltd(DLF.NS) gain 5.2 percent, recovering from four sessions of falls.

Rebound in shares comes after DLF vice chairman Rajiv Singh indicates earnings would improve and says net debt would fall, according to analysts who attended the company's first ever post-results analyst meeting on Friday.

CLSA upgrades the stock to "outperform" from "sell", and raises target price to 280 rupees from 180 rupees, quoting Singh as painting "an optimistic outlook" for earnings.

Singh guided for EBITDA potential of 82.5 billion rupees over the next two to three years and said DLF would halve net debt by half over the same period, CLSA says.

DLF said on Thursday October-December consolidated net profit rose a slower-than-expected 10.5 percent to 2.86 billion rupees.

(Reporting by Manoj Dharra)

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

REUTERS SHOWCASE

Earnings Season

Earnings Season

Wipro sees rosier end to year as U.S. clients spend.  Full Article 

DLF Appeals

DLF Appeals

DLF seeks interim relief from capital market ban  Full Article 

Business Climate

Business Climate

Fears for tough penalties grow as India cleans up business  Full Article 

New Email Service

New Email Service

Google launches new email service dubbed "Inbox".  Full Article 

Falling Oil Prices

Falling Oil Prices

Indian consumers respond to softer oil, food prices  Full Article 

Pollution Levels

Pollution Levels

Delhi braces for worst air quality this Diwali week.  Full Article 

Book Keeping

Book Keeping

RBI fires warning shots on companies' lack of FX hedging.  Full Article 

Policy Repo Rate

Policy Repo Rate

Most external members suggested rate cut in RBI's Sept review.  Full Article 

Reuters India Mobile

Reuters India Mobile

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