Shares of DLF Ltd surged to its day's high
Advertisement
Advertisement
DLF Ltd., India's top real estate company, surged to its day's high on Wednesday after it announced a project-specific joint venture with an overseas sovereign fund.GIC, Singapore's sovereign wealth fund, will invest 1,990 crore rupees into a joint venture overlooking DLF's two projects in Central Delhi, DLF said in a statement to the exchanges.
As a consequence, DLF jumped 5 rupees, or 4.7 percent, to 111.40 rupees on the National Stock Exchange with 1.04 crore shares traded compared with a 5-day average of 1.46 crore shares. Open Interest rose 4.8 percent over Tuesday, indicating a modest build up of long positions.
DLF's market capitalisation fell 40 percent in the past one year to 19,200 crore rupees as investors stayed away from a sector exhibiting falling prices and slipping demand. The stock is trading at 0.7 times its book value of 154 rupees.
Image credit: Indiatimes
Advertisement
Advertisement
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings