DLF is trading 3% lower at Rs 183 on reports that the Competition Commission of India (CCI) has imposed a penalty of Rs 630 crore for abusing of market dominance and unfair trade practices.
“The penalty amounting to 7% of Rs 9,006 crore, the company’s average annual turnover in the last three years, was slapped after anti-competitive practices watchdog found merit in complaints of alleged abuse of dominant position by putting discriminatory and abusive clauses in the apartment agreements provided to the allottees of two of DLF’s high-profile residential projects in Gurgaon," reports suggest.
The stock hit a low of Rs 182, its lowest price since April 2009 after opening at Rs 185 on the National Stock Exchange (NSE). A combined 500,000 shares have changed hands in opening deals.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app