JPMorgan upgrades Unitech to overweight; target Rs 60

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JPMorgan upgrades Unitech to overweight; target Rs 60

Unitech touched an intraday high of Rs 37.85 and an intraday low of Rs 37.25. At 09:30 hrs the share was quoting at Rs 37.80, up Rs 0.85, or 2.30%. JPMorgan has upgraded company's rating to overweight and increase target price to Rs 60 from Rs 45, reports CNBC-TV18.

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Unitech touched an intraday high of Rs 37.85 and an intraday low of Rs 37.25. At 09:30 hrs the share was quoting at Rs 37.80, up Rs 0.85, or 2.30%.

JPMorgan has upgraded company's rating to overweight and increase target price to Rs 60 from Rs 45. The land value estimated at least Rs 62 per share. The company is yet to receive cash flows worth Rs 3000 crore from pre-sales, reports CNBC-TV18.
 
It was trading with volumes of 2,319,474 shares. In the previous trading session, the share closed up 1.37% or Rs 0.50 at Rs 36.95.