April 9, 2018 / 4:47 AM / 16 days ago

BUZZ-India's DLF rises, Morgan Stanley resumes coverage with 'equalweight'

** Real estate developer DLF Ltd rises as much as 1.5 pct to 207.45 rupees

** Morgan Stanley resumes coverage with “equalweight” rating and PT of 225 rupees, citing improved balance sheet after co’s restructuring

** DLF now needs to provide a clear roadmap to unlock value in its large but concentrated land bank - MS analysts

** Although co has significant value embedded in its land bank, monetization is relatively slow and “markets appear unwilling to pay upfront for development plans spanning several decades,” MS analysts write

** Strong sustained earnings/cash flows should be upside driver, while unresolved legal cases could hurt sentiment - Morgan Stanley

** Five of 15 brokerages covering stock rate it “buy” or higher, five “hold” and rest “sell” or lower; median PT 225 rupees - Thomson Reuters Eikon

** Shares were last up 1.3 pct at 206.85 rupees

** Stock had shed over 21 pct this year as of Friday’s close after gaining nearly 133 pct last year

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below