 "HDIL gains on brokerage upgrade")
Shares of Housing Development and Infrastructure Limited (HDIL) have gained 4% to Rs 83 on National Stock Exchange (NSE) after Macquarie upgrade the stock to Outperform, raising target price to Rs 104.
The increase is driven by debt reduction and lowering of discount to NAV on account of improving visibility of launches, Abhishek Bhandari, analyst at Macquarie Capital Securities India said in a report.
“HDIL is a high risk, high return stock where news flow often remains volatile. We think that if the management delivers on the debt reduction and new launches, the stock can re-rate significantly,” added analyst.
The stock opened at Rs 80.70 and touched high of Rs 84 on NSE. Till 1217 hours, a combined 11.65 million shares changed hands on the counter on NSE and BSE.
The increase is driven by debt reduction and lowering of discount to NAV on account of improving visibility of launches, Abhishek Bhandari, analyst at Macquarie Capital Securities India said in a report.
“HDIL is a high risk, high return stock where news flow often remains volatile. We think that if the management delivers on the debt reduction and new launches, the stock can re-rate significantly,” added analyst.
The stock opened at Rs 80.70 and touched high of Rs 84 on NSE. Till 1217 hours, a combined 11.65 million shares changed hands on the counter on NSE and BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%