WebSify
Follow us on
Mail
Print

Analysts' corner

Source : BUSINESS_STANDARD
Last Updated: Thu, Dec 27, 2012 18:01 hrs
A man walks past a logo of Indian property developer DLF Ltd. in Mumbai

DLF
Reco price/date: Rs 225/Dec 19;
Current/Target price: Rs 223/Rs 220
DLF has entered into a binding agreement to sell Aman resorts for $300 million. Proceeds of the divestment are expected to be used largely for debt reduction. This comes on the back of big-ticket Mumbai asset sale in October. The company is now closer to achieving its net debt target of Rs 185 billion by March 2013. This debt reduction, coupled with high-value NCR launches, has the potential to significantly turn around cash flow for the company. Neutral.

J P Morgan Asia Pacific Equity Research

GLENMARK PHARMA
Reco price/date: Rs 520/Dec 24;
Current/Target price: Rs 519/Rs 600
Glenmark Pharmaceuticals (Glenmark Pharma) has entered into an agreement with Forest Laboratories Inc (Forest Labs) to develop novel mPGES-1 inhibitors to treat chronic inflammatory conditions, including pain. Under the terms of agreement, Forest Labs will make a $6-million up-front payment and provide an additional $3 million to support the next phase of work. Analysts expect strong performance in branded generics business to continue. Maintain 'Buy'.

Sharekhan


blog comments powered by Disqus
most popular on facebook
talking point on sify finance