DLF gains on hopes of earnings recovery, lower debt
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)
- Tweet this
- Share this
- Digg this
- Indian firms tool up for defence orders on Modi's 'buy India' pledge
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Chopra joins Tendulkar-owned team in new Indian league
- US STOCKS-Wall St to open up after jobless claims data; Jackson Hole ahead
- India to tighten up banking risk management - Jaitley
Finance Minister Arun Jaitley said on Thursday that the government was working to tighten up risk management in the banking sector, responding to recent scandals that have raised doubts about lending practices at state banks. Full Article