Moneycontrol Be a Pro
Get App
Last Updated : Jul 10, 2018 11:18 AM IST | Source: Moneycontrol.com

DLF jumps 3% as JP Morgan retains 'Overweight' stance with target of Rs 280

JP Morgan believes that near term investment thesis is predicated on pick up in residential sales while monetisation for phase 5 developments unsold inventory to be faster. It has an overweight rating on the stock with target of Rs 280.

Sandip Das @Im_Sandip1
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of real estate major DLF are up over 3 percent intraday on Tuesday. On June 2018, the company announced expansion of DLF Cybercity in Chennai by adding three blocks spread over 1.6 million square feet.

"Our growth story thus far has been very exciting here, combining the new blocks DLF Cybercity Chennai will now offer seven million square feet of Grade A inventory", he said. "Further marching on the path of success,we have launched the new generation office blocks that will provide an eco-system driving innovation and collaboration", said DLF Rental Business, Managing Director, Sriram Khattar.

Global research firm JPMorgan has come out with a report on DLF and has maintained an overweight stance on the stock with target of Rs 280 per share.

Close

The firm believes that near term investment thesis is predicated on pick up in residential sales while monetisation for phase 5 developments unsold inventory to be faster.

The research firm further said that move towards completed accounting is likely to aid net profits materially over FY19/20.

At 11:10 hrs DLF was quoting at Rs 193.55, up Rs 6.05, or 3.23 percent. It has touched an intraday high of Rs 195.00 and an intraday low of Rs 189.50.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jul 10, 2018 11:18 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant
Make every wish come true
10% CashBack on Apparel
10% CashBack on Electronics
Swipe & Win iPhone 11 every hour