India's Signatureglobal rises as ICICI Securities hikes price target

ICICI Securities

04/09/2024 09:41

** Shares of Signatureglobal (India)  SIGT.NS  rise as much
as 2.1% to 1,440.1 rupees 
    ** ICICI Securities hikes PT on stock to 1,905 rupees from
1,707 rupees; new PT at a 35% premium on stock's last close 
    ** Brokerage retains "buy" rating, adds that real estate
firm may clock 19% sales booking compound annual growth rate
over FY24-27 on strong launch pipeline 
    ** Expects co's annual sales booking to range between 100
bln rupees ($1.19 bln) and 120 bln rupees over FY25-27 
    ** Says co has firmly established its presence across
Gurugram, sees next level of growth to come from other prominent
National Capital Region (NCR) markets 
    ** Adds co's possible foray into new markets is a key
monitorable 
    ** Broader domestic markets slump with benchmark Nifty 50
index  .NSEI  down 0.4%  .BO  
    ** Stock up ~3% YTD 
    

   ($1 = 83.9310 Indian rupees)
    
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))