DLF jumps 3% after CLSA upgrades stock to 'Buy'

NEW DELHI: DLF shares jumped 3% on Wednesday morning after CLSA upgraded the stock to 'Buy' from 'Sell'.

The brokerage also raised the target price on DLF from Rs 167 to Rs 229.

The scrip closed at Rs 192.35, up 2.78 per cent on BSE while the benchmark BSE Sensex closed 0.58 per cent higher at 37,752.17.


According to CLSA, leasing business is set to deliver double-digit growth with stable balance sheet.

The brokerage further said that the development business has achieved stability and the higher target price reflects higher value of the land-bank and lower capital rates.

The shares of DLF opened at Rs 189 on BSE against its previous closing of Rs 187.15.