20795 Investors following Indiabulls Real. Share this News with them.
0
Like this story, share it with millions of investors on M3
Buy Indiabulls Real Estate, target of Rs 526: IIFL
IIFL has maintained its buy rating on Indiabulls Real Estate(IBREL) with a target price of Rs 526. The research firm expects it to make further progress on coal linkages and land acquisition in its power vertical.
IIFL has maintained its buy rating on Indiabulls Real Estate (IBREL) with a target price of Rs 526 in its August 25, 2008 research report. "Given IBREL's cautious commentary on the current business environment, we expect fewer new launches in real-estate and moderated growth in consumer retail. We expect it to make further progress on coal linkages and land acquisition in its power vertical."
"We expect IBREL's FY09 numbers to be driven largely by investment income on its large cash balance. We have downgraded our assumptions on rentals on IBREL's retail malls in view of current market conditions and have built in delays in project execution timelines. We maintain our BUY recommendation on the stock and have downgraded our target price to Rs 526 per share (10% discount to NAV)," says IIFL's research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
