Research Report

Large Cap
09 Feb 2012, 04:40 PM
DLF Ltd.
Morgan Stanley
HOLD
SHORT TERM
Price when Post
232.85
Target Price
Return
-100%
Morgan Stanley says hold DLF

Stock to decline relative to Sensex over next 15 days. Stock appears expensive at 23 times FY13 price earnings multiple. Limited project launches in Q3 could drag operating cash flows.

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