Moneycontrol
Last Updated : Jan 09, 2019 09:27 AM IST | Source: Moneycontrol.com

DLF rises 1% as Axis Capital maintains buy with target Rs 241

The Gurugram’s residential volumes are weak but unsold inventory is trending down, says Axis Capital.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of DLF rose 1.6 percent in the early trade on Wednesday after brokerage house Axis Capital maintained buy call on the stock with a target at Rs 241 per share.

Axis Capital believes that the FCF generation will allay cash flow pressure on company's residential business. The DevCo has already achieved positive operational cash flow in Q2FY19.

The valuation comfort comes from high contribution from the rental portfolio, while it expect double-digit growth in rentals over next 5 years to cushion to valuation.

The Gurugram’s residential volumes are weak but unsold inventory is trending down, it added.

At 09:22 hrs DLF was quoting at Rs 184.20, up Rs 2.70, or 1.49 percent on the BSE.

For more market news, click here
First Published on Jan 9, 2019 09:27 am
More From
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant