DLF promoters lose Rs 54000 cr of wealth

Global blood bath washed out Indian markets today as well. This negative impact has been weighing heavy on markets since last week. Even large promoters have not left behind. Ambani brothers, Wipro’s Azim Premji, DLF’s KP Singh and many more have shaved off their market capitalisation.

Country’s largest real estate developer, DLF touched an intraday low of Rs 740 before closing the day at Rs 867.70, down Rs 36, or 3.98% over its previous close of Rs 903.70.
 
The stock hit a 52-week high of Rs 1,225 on January 15, 2008. It slipped over 29% from that high at closing price and at intraday low, lost nearly 40%.

Promoters hold nearly 88.17% stake in the company that was valued around Rs 1,84,105 crore at Rs 1225.

As on Tuesday’s low, its stake is valued at around Rs 1,11,214 crore and at closing, it was priced around Rs 1,30,406 crore. It shows that KP Singh and his family members lost nearly Rs 72890 crore and Rs 53700 crore of wealth, at respective market cap.

At today's low, the stake was valued around Rs 72890