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)
India to receive normal rains, not surplus, as La Nina chances fade
MUMBAI/NEW DELHI India will receive normal rainfall over the 2016 monsoon season, not surplus as previously expected, with the chances of a La Nina weather pattern emerging over the period seen as unlikely, three senior officials at state-run weather department said.
Piramal to partner Bain Capital for distressed-debt investment
MUMBAI Piramal Enterprises Ltd said it would partner Bain Capital to invest in distressed assets, becoming the latest entrant in the space as the nation's banks are on a drive to clean up $120 billion of sour debt.
China takes aggressive steps to fend off banking, financial risks
BEIJING/SHANGHAI China took aggressive steps on Wednesday to head off signs of growing risks in its financial and banking system, unveiling detailed rules to curb an unruly peer-to-peer (P2P) lending sector and intervening in its money markets.