RBS upgrades DLF stock to 8216;buy8217;

RBS not only upgraded DLF Ltd stock to 8216;buy8217; from 8216;sell8217;,it also raised the target price to 250 rupees from 195 rupees on improving cash-flow and a ramp-up in sale of its non-core assets.

We believe the worst is over for DLF and expect a gradual recovery,the British bank said in a note. DLF also expects to launch and sell premium residential projects in Gurgaon,which could generate cash flows of 15 billion to 18 billion rupees in FY12,RBS said.

At 9.45 a.m. shares in India8217;s top listed real estate developer were trading 5 percent higher to 231.05 rupees.

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