DLF gains ahead of board meeting today

DLF rose 1.37% to Rs 140.40 at 10:36 IST on BSE as the company's board will meet today, 8 October 2015, to discuss the recommendations made by a committee on ways to drive the growth of company's rental business.

Meanwhile, the BSE Sensex was down 107.05 points, or 0.40%, to 26,928.80.

On BSE, so far 6.48 lakh shares were traded in the counter, compared with an average volume of 15.84 lakh shares in the past one quarter.

The stock hit a high of Rs 141.40 and a low of Rs 139.30 so far during the day. The stock hit a 52-week high of Rs 179 on 4 February 2015. The stock hit a record low of Rs 93 on 24 August 2015.

The stock had outperformed the market over the past one month till 7 October 2015, rising 22.95% compared with 8.60% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.48% as against Sensex's 4.03% decline.

The large-cap company has an equity capital of Rs 356.61 crore. Face value per share is Rs 2.

The board of DLF will meet today, 8 October 2015, to consider and deliberate on the recommendations, if any, of the audit committee, which is also scheduled to meet today, 8 October 2015, to evaluate, review and recommend various strategic and financial options to drive sustainable and long-term growth and development of rental business. The committee will also recommend various options to resolve conflict of interest in the ownership of DLF Cyber City Developers (DCCDL) with inter-se affiliated persons/entities.

On consolidated basis, DLF's net profit fell 4.9% to Rs 121.55 crore on 26.7% growth in total income to Rs 2345.62 crore in Q1 June 2015 over Q1 June 2014.

DLF is one of the biggest real estate development companies in India. DLF is primarily engaged in the business of development and sale of residential properties and the development and leasing of commercial and retail properties.

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