India's Aditya Birla Real Estate rises after swinging to quarterly profit

Grasim Industries

Yesterday 05:29

** Shares in Aditya Birla Real Estate AITE.NS rise as much as 3.7% at 1,117.9 rupees, last up 2.6% 
** Co swung to a quarterly consolidated net profit of 8.59 billion rupees ($90.5 million) for July-September quarter
** Brokerages upbeat on co's long term prospects but say near term delays in projects could impact performance
** Emkay cuts target price to 1,400 rupees from 1,750 rupees says fiscal 2028 order pipeline gives "optimism" 
** Jefferies cuts price target to 1,600 rupees from 1,880 rupees; both maintain 'buy' rating; says proceeds from deals along with growing order pipeline keeps co on track 
** Both brokerages maintain "buy" rating
** All of the 11 analysts covering the stock have a "buy" or higher rating; median is 1,800 rupees - LSEG-compiled data
** Stock down ~34% so far this year

 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))