India's Sunteck Realty rises on positive analyst commentary

Sunteck Realty

11/10/2023 06:50

** Shares of Sunteck Realty  SUNT.NS  rise as much as 6.97%
to 481.9 rupees, highest level since Sept. 2, 2022
    ** Analysts at Jefferies note co's tie-up with IFC to create
a joint platform provides significant push to growth potential
over medium-long term
    ** "The platform, alongside any affordable housing policy
benefits, raise visibility on growth and land monetization" -
Jefferies
    ** Brokerage hikes PT to 555 rupees from 415 rupees ,
maintains "buy"
    ** Antique stock broking says it expects consistent progress
in ongoing projects and increasing sales momentum to generate
substantial surplus cash flow and drive growth without straining
balance sheet
    ** Antique reiterates "buy" with revised PT of 565 rupees
from 479 rupees
    ** More than 2.1 mln shares change hands by 11:06. a.m. IST,
3.2x the 30-day avg
    ** Including day's move, stock up 42.4% YTD

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))