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Monday, 11 April 2016
DLF up 3% as promoters kick off divestment in rental arm
Shares of realty major DLF today climbed over 3 per cent after the company initiated the process to sell promoters' 40 per cent stake in the rental arm, a deal estimated at Rs 12,000-14,000 crore. Shares of the firm were trading at Rs 122.40 on BSE, up by 3.33 per cent over the previous close. On NSE, the stock surged 3.42 per cent to trade at Rs 122.45. DLF had in October announced that its promoters will sell their stake in the DLF Cyber City Developers Ltd (DCCDL),which holds the bulk of office and retail complexes. The realty firm would continue to own remaining 60 per cent stake in DCCDL.
Shares of realty major DLF today climbed over 3 per cent after the company initiated the process to sell promoters' 40 per cent stake in the rental arm, a deal estimated at Rs 12,000-14,000 crore. Shares of the firm were trading at Rs 122.40 on BSE, up by 3.33 per cent over the previous close. On NSE, the stock surged 3.42 per cent to trade at Rs 122.45. DLF had in October announced that its promoters will sell their stake in the DLF Cyber City Developers Ltd (DCCDL),which holds the bulk of office and retail complexes. The realty firm would continue to own remaining 60 per cent stake in DCCDL.
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