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Indiabulls Real Estate cut to ‘hold’ at Deutsche Bank

Posted on 03 June 2009

From Bloomberg: Indiabulls Real Estate Ltd., India’s third-biggest developer, was downgraded at Deutsche Bank AG, which cited the gains in the shares, a possible sale of warrants and “weak demand” for its Mumbai office projects.

The shares were lowered to “hold” from “buy,” Deutsche Bank analysts Abhay Shanbhag and Prakash Agarwal wrote in a report yesterday. They increased their share-price estimate by 18 percent to 183 rupees, the report also said. ……Full Article: Source


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