DLF's March quarter performance and near-term negatives added to the woes of the stock, which on an intra-day basis on Wednesday dipped to its lowest level since September last year.
DLF, India's largest listed realty developer, is looking at sales bookings of eight million sq ft worth Rs 6,000 crore in the current financial year (FY14).
DLF, the country's largest listed developer, is looking at sales bookings of eight million square feet, amounting to value of Rs 6,000 crore in the current financial year.
Shares of DLF were down in early trades after the realty major late Thursday reported weak earnings for the fourth quarter ended March 31, 2013 because of lower sales.
Shares of real estate, infrastructure and capital goods companies are witnessing a sell off in noon deals with many of them down over 6% each. Markets continue to trade near day lows after Japan's Nikkei slumped over 1,140 points or 7%.
Realty major DLF has raised Rs 1,863 crore through issue of over 81 million fresh shares to institutional investors, enabling it to dilute promoters stake to 75 per cent, in line with the Securities and Exchange Board of India's (Sebi) minimum public
DLF is trading higher by 2% at Rs 235 in opening trades on the National Stock Exchange after the company received strong response from institutional investors for its share sale programme.
The institutional placement programme of DLF, the country's largest developer, got oversubscribed by 1.07 times. DLF IPP received 87.1 million bids versus 81 milion shares offered in the IPP.
Real estate company DLF will sell up to 81 million shares at a face value of Rs 2 under the institutional placement programme (IPP) in the next 10 days, it is learnt.
On the heels of giving a clean chit to Robert Vadra in his controversial Gurgaon land deal with realty major DLF, the Haryana government has sought an explanation from IAS officer Ashok Khemka for alleged irregularities in cancelling the deal.
Realty major DLF today said that US-based foreign fund Oppenheimer has increased its stake in the company to 5.18%, which is worth nearly Rs 2,200 crore at current valuation.
Real estate major DLF today said that it will sale its windmills in Tamilnadu and Rajasthan to two different companies as part of its stated objective of divesting its non core assets.
DLF is trading higher by 2.1% at Rs 275 after its board approved the issuance of fresh equity shares to dilute promoter group holding in the company to meet Sebi norms of 25% minimum public shareholding.
