The realty space is the biggest loser among sectoral indices as the Nifty Realty index dropped nearly 25 percent year-to-date against 7 percent upside in Nifty50.
The 3.5 acres were alleged to have been bought for Rs 7.5 crore by Vadra's company and later sold to DLF for Rs 58 crore after getting a licence to develop a colony.
As per the proposal, the DLF will now invest Rs 1,439.11 crore to develop the Cyber Park project, as against the earlier estimate of Rs 412.67 crore.
The big bull made his first share purchase of the Delhi-based realtor in 2016, according to a source
Singh noted that RERA has been well supported by the implementation of good and services tax (GST) regime that would create a level-playing field for the organised players and accelerate growth in the sector.
He said the real estate should not be treated as 'milching cow' and added that there is a case for even lowering the GST rate from current 12 percent.
The JV was formed in December 2017 when DLF promoters sold entire 40 percent stake in DCCDL for nearly Rs 12,000 crore.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 10 points or 0.09 percent. Nifty futures were trading around 11,432- level on the Singaporean Exchange.
The country's largest realty firm had achieved bookings of only Rs 1,000 crore during 2017-18 as sales were suspended for six months to comply with the provisions of new real estate law RERA that came into force from May last year.
Lakhs of home buyers are stuck in various projects of developers such as Jaypee group, Amrapali, Unitech and The 3C Company.
DLF had bought this land for Rs 1,496 crore in an e-auction conducted by the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC).
Total income, however, declined to Rs 1,657.67 crore during April-June this fiscal from Rs 2,211.24 crore in the corresponding period of the previous year.
Its net profit stood at Rs 110.70 crore in the year-ago period, the company said in a regulatory filing.
132 stocks have hit new 52-week low including Amtek Auto, DEN Networks, Dena Bank, Hathway Cable, HDIL, INOX Wind, Kwality, Reliance Naval, Tata Power, Capital First and Vedanta among others.
Real estate major looking at a 15.2 percent per annum from both existing portfolio and new construction
The blocks are equipped with ultra modern interiors, high-end atriums, a food court with 1,200 seats, a day care centre and a sports hub with outdoor sporting facilities.
Net profit stood at Rs 4,476 crore, including exceptional gain, on account of fair valuation of DLF’s residual stake in DCCDL.
101 stocks hit new 52-week low including names like Amtek Auto, Balrampur Chini, BEL, HCC, IDFC Bank, Reliance Power, Suzlon Energy, Chennai Petro, HDIL, Idea Cellular, HUDCO and Kwality among others.
37 stocks hit fresh 52-week high including Ashok Leyland, Cyient, Indiabulls Ventures, Mahindra & Mahindra, Mindtree, Mphasis and Zydus Wellness among others.
Singh, who is also a promoter of the company, offloaded the shares to another promoter entity Rajdhani Investment and Agencies Pvt Ltd.
Earlier, DLF had also provided around 60,000 sq ft office space on lease to co-working operator Skootr.
The reaction to the US-China trade war on equity markets was nothing short of a bloodbath. Asian markets plunged while back home Sensex and Nifty recorded a cut of over 1 percent. The rout witnessed by the Indian market on Friday has eroded Rs 1.57 crore of investor wealth.
CA Rudramurthy BV, Head-Research at Vachana Investments recommends buying DLF, Reliance Capital and Jain Irrigation Systems.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Voltas, Tata Consultancy Services, Sun Pharmaceutical Industries, NMDC, DLF, KPIT Technologies and Hexaware Tech and can short UltraTech Cement and Tata Motors.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell SBI, DLF and Axis Bank and can buy NTPC and Power Grid.