DLF is trading higher by over 3% at Rs 152, extending its previous day’s nearly 6% rally on BSE, after the real estate developer said it sold assets worth of Rs 147 crore as part of its strategy to pare debt by exiting non-core businesses.
“The subsidiaries of the company, namely, DLF Home Developers Ltd. and DLF Projects Ltd. have divested 60% stake in Star Alubuild Private Limited (Star Alubuild), a subsidiary at an enterprise value of Rs 79.8 crore,” DLF said in a statement.
The company has sold its stake in unit Star AluBuild Pvt. Ltd to Japan’s Lixil Corp.
DLF said that it has also concluded an agreement with Violet Green Power Pvt. Ltd to sell a 33 megawatts (MW) capacity wind turbine business in Rajasthan for Rs 67.44 crore on Tuesday as part of the strategy.
These transactions are a part of DLF's objective of divesting its non-core assets, it added.
The stock opened at Rs 147.90 and has seen a combined around 2.22 million shares changing hands on the counter till 0935 hours on BSE and NSE.
“The subsidiaries of the company, namely, DLF Home Developers Ltd. and DLF Projects Ltd. have divested 60% stake in Star Alubuild Private Limited (Star Alubuild), a subsidiary at an enterprise value of Rs 79.8 crore,” DLF said in a statement.
The company has sold its stake in unit Star AluBuild Pvt. Ltd to Japan’s Lixil Corp.
DLF said that it has also concluded an agreement with Violet Green Power Pvt. Ltd to sell a 33 megawatts (MW) capacity wind turbine business in Rajasthan for Rs 67.44 crore on Tuesday as part of the strategy.
These transactions are a part of DLF's objective of divesting its non-core assets, it added.
The stock opened at Rs 147.90 and has seen a combined around 2.22 million shares changing hands on the counter till 0935 hours on BSE and NSE.
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