DLF gains on fund raising plan

DLF rose 1.96% to Rs 116.80 at 13:03 IST on BSE on reports that the company is likely to raise about Rs 2500-3000 crore by next month via private equity.

Meanwhile, the BSE Sensex was up 258.54 points, or 0.93%, to 28,191.44.

On BSE, so far 4.97 lakh shares were traded in the counter, compared with an average volume of 9.38 lakh shares in the past one quarter.

The stock hit a high of Rs 118.20 and a low of Rs 116.05 so far during the day. The stock hit a 52-week high of Rs 228.90 on 17 July 2014. The stock hit a record low of Rs 100 on 16 October 2014.

The stock had outperformed the market over the past one month till 14 July 2015, rising 6.46% compared with 5.71% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 27.06% as against Sensex's 3.83% fall.

The large-cap company has an equity capital of Rs 356.46 crore. Face value per share is Rs 2.

The report further added that DLF is also in talks with Singapore government's investment arm GIC to sell stake in a new housing project in New Delhi. The company is reportedly in advanced stage of talks with sovereign wealth fund GIC to sell up to 49% stake in the new residential project in the National Capital. The deal is expected to close in the next one month, reports added.

On consolidated basis, DLF's net profit fell 21.9% to Rs 171.62 crore on 15% drop in total income to Rs 2144.23 crore in Q4 March 2015 over Q4 March 2014.

DLF's primary business is development of residential, commercial and retail properties. DLF is now present across 15 states-24 cities in India.

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