Kotak initiates Signatureglobal India with "add"

Signatureglobal (India)

22/12/2023 05:40

** Kotak Institutional Equities initiates coverage on
Signatureglobal (India)  SIGT.NS  with "add" rating
    ** Adds fair value of 910 rupees; a 12.5% premium on stock's
last close
    ** SIGT shares are up 1.5% at 820.70 rupees, receding from
record high of 828.85 rupees
    ** Real estate firm says its unit executed conveyance deed
for 7.26 acres land under collaborative agreement plans
    ** Co's ongoing projects and project pipeline should allow
it to generate 125 bln rupees ($1.50 bln) cash by 2030 - Kotak
    ** Stock has gained nearly 80% since listing on Sept. 27


($1 = 83.2675 Indian rupees)

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