Hotel Leela Venture a market performer: India Infoline

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Hotel Leela Venture a market performer: India Infoline

India Infoline has downgraded its rating on Hotel Leela Venture to market performer with a target price of Rs 41. India Infoline estimates sales and profit CAGR of 15.8% and 6% respectively although dilution on account of euro FCCB conversion would impact earnings in FY10E.

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India Infoline has downgraded its rating on Hotel Leela Venture to market performer with a target price of Rs 41 in its June 30, 2008 research report. "We estimate sales and profit CAGR of 15.8% and 6% respectively although dilution on account of euro FCCB conversion would impact earnings in FY10E. In view of moderate ARR growth, likely weakness in Bangalore market and FCCB overhang, we downgrade the stock to MP with a price target of Rs 41," says India Infoline's research report.

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