UBS said it expects limited impact on DLF's business following recent accusations by anti-corruption activist Arvind Kejriwal of improper dealings with Robert Vadra, son-in-law of ruling Congress Party chief Sonia Gandhi, and Haryana government.
"With the stock down 11 percent on the back of this news flow, and our expectation of no material impact on DLF's business - we believe concerns are largely priced in," UBS said in a note dated on Wednesday.
DLF has denied accusations of improper dealings.
UBS maintained a 'buy' rating on the company.
Don't miss: It is turning out to be a miserable year for DLF
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Dont see mkt going anywhere now; like Bharat Forge: Dipen