Shares in DLF Ltd, India's top real estate developer, fell 1.5 per cent after its December-quarter net profit lagged estimates when adjusted for Rs 192 crore of tax credit.
Consolidated net profit fell 49 per cent to Rs 145 crore from Rs 285 crore a year earlier.
Morgan Stanley downgraded the stock to 'underweight' from 'equal-weight' and reduces its price target to Rs 125 from Rs 152, citing weak pipeline of older projects and slow pre-sales in FY13-FY14.
DLF shares finished at Rs 143.00 on the BSE at the end of Monday's session, down 1.00 per cent from the previous close.
Shares in DLF Ltd, India's top real estate developer, fell 1.5 per cent after its December-quarter net profit lagged estimates when adjusted for Rs 192 crore of tax credit.
Consolidated net profit fell 49 per cent to Rs 145 crore from Rs 285 crore a year earlier.
Morgan Stanley downgraded the stock to 'underweight' from 'equal-weight' and reduces its price target to Rs 125 from Rs 152, citing weak pipeline of older projects and slow pre-sales in FY13-FY14.
DLF shares finished at Rs 143.00 on the BSE at the end of Monday's session, down 1.00 per cent from the previous close.
Shares in DLF Ltd, India's top real estate developer, fell 1.5 per cent after its December-quarter net profit lagged estimates when adjusted for Rs 192 crore of tax credit.
Consolidated net profit fell 49 per cent to Rs 145 crore from Rs 285 crore a year earlier.
Morgan Stanley downgraded the stock to 'underweight' from 'equal-weight' and reduces its price target to Rs 125 from Rs 152, citing weak pipeline of older projects and slow pre-sales in FY13-FY14.
DLF shares finished at Rs 143.00 on the BSE at the end of Monday's session, down 1.00 per cent from the previous close.
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