Nomura Financial Advisory and Securities has remained 'Suspended' on Lanco Infratech in its report.
Commenting on the investment rationale, the broking house said, ''At Rs 6.9 billion, Lanco's normalized EBITDA came in 33% above consensus; normalized net loss at Rs 3 billionn (down 15% y-y, 33% q-q) was 26% below consensus.''
Nomura, said, ''Our rating, earnings forecasts and valuation (target price) on Lanco remain 'Suspended' as the company is still in the process of restructuring the debt on its standalone balance sheet, by way of reference to the CDR Cell.''
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