DLF Share Price Rises Nearly 4% As CLSA Upgrades Stock

DLF Ltd. saw its share price rise nearly 4% on Thursday after global brokerage firm CLSA upgraded the stock to ‘High Conviction Outperform’ from ‘Outperform’. CLSA has set a target price of Rs 975, citing strong growth prospects and an unjustified discount to the company’s net asset value.

The scrip rose as much as 3.94% to Rs 793 apiece. It pared gains to trade 2% higher at Rs 778 apiece, as of 09:21 a.m. This compares to a flat NSE Nifty 50 Index.

It has declined 2.35% in the last 12 months. Total traded volume so far in the day stood at 0.27 times its 30-day average. The relative strength index was at 55.

Out of 21 analysts tracking the company, 19 maintain a 'buy' rating, one recommends a 'hold,' and one suggests 'sell,' according to Bloomberg data.