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This is an archive article published on April 30, 2012

DLF gains after Goldman Sachs upgrade

DLF's share price is down 0.5% for 2012 while India's benchmark index is up about 11%.

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India’s biggest real estate developer DLF rise 3.2 per cent to 188.10 after Goldman Sachs upgrades its rating on the stock to buy from neutral and raises its 12-month target price to 264 rupees from 252 rupees.

Goldman cites a pick up in residential launches,a recovery in commercial property,easing interest rates,and improved outlooks for asset sales as well as for operating/financial leverage as reasons for upgrade.

DLF’s share price is down 0.5 per cent for 2012 while India’s benchmark index is up about 11 per cent in the same period.

The upgrade

has come close on the heels of DLF’s removal from India’s benchmark index,which will come into effect from June 11.

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