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Prestige Estates share price gained as much as 5 percent in morning after global investment firm CLSA maintained Buy call to the stock, with a target price of Rs 395 per share.
The research house sees large scale-up potential in residential & office business and likes company's platform-led strategy to growth.
The company raised its risk appetite & investment capability at the right time, CLSA said, adding the stock is a preferred value pick in the property sector.ICICI Bank has filed an insolvency petition under the Insolvency and Bankruptcy Code, 2016 against Punj Lloyd before the NCLT Principal Bench, New Delhi on May 28.
On June 14, 2018, the NCLT issued notice to Punj Lloyd to file their reply within 2 weeks. The petition has been filed in the ordinary course of business against a defaulting borrower and has been determined to not be material to ICICI Bank and does not warrant disclosure to the stock exchanges.
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