Despite reporting disappointing quarterly results, DLF had a good day in trade. Shares in DLF rose as much as 3.7 percent on Thursday to Rs 210.40, while the benchmark Mumbai market index was down 0.8 percent. The stock is up more than 14 percent this year, but lags a 42 percent rise in the BSE realty index.
The reason for the share’s rise is because the compnay has decided issue nearly 4.5 percent of fresh equity to meet SEBI's June 2013 deadline of a minimum 25% public float. Also read: DLF aims to sell luxury hotel chain by end December
DLF promoters will not be selling their 78.5% stake in the company. DLF is looking at this fresh equity issues after it reduces its Rs 21000 cr debt via non core asset sale and new launches.
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