DLF,
a leading real estate developer, gained on Monday after CLSA
upgraded realty major to 'outperform' from 'sell' earlier citing
debt reduction plan to boost earnings in near future.Asia
Pacific-focused broker CLSA has also upped the target price from Rs
180 earlier to Rs 280, an increase of over 55%.Realty major DLF's
net debt has reduced by Rs 18.70 billion during the third quarter
of ongoing fiscal to Rs 213.50 billion with the help of proceeds of
the sale of its major non-core assets of prime Mumbai land and
hospitality chain Aman Resorts.
Shares ofthe companyare trading at Rs
261.70, up Rs 12.9, or 5.18% at the Bombay Stock Exchange (BSE) on
Monday at 2:57 p.m.The scrip has touched an intra-day high of Rs
262.80 and low of Rs 250.40. The total volume of shares traded at
the BSE is 1,029,718.In the earlier session, the shares fell 2.03%,
or Rs 5.15, at Rs 248.80. Currently, the stock is trading down
6.34% from its 52-week high of Rs 279.40 and above 54.35% over the
52-week low of Rs 169.55.
Post a Comment