DLF recovers on bargain hunting

DLF rose 1.4% to Rs 137.45 at 9:51 IST on BSE, with the stock recovering on bargain hunting after 5-day 20.91% slide.

Meanwhile, the S&P BSE Sensex was down 18.25 points or 0.09% at 19,875.60.

On BSE, 2.90 lakh shares were traded in the counter as against average daily volume of 12.67 lakh shares in the past one quarter.

The stock hit a high of Rs 138.45 and a low of Rs 136.20 so far during the day. The stock had hit a 52-week high of Rs 289.20 on 12 March 2013. The stock had hit a record low of Rs 120.25 on 6 August 2013.

The stock had underperformed the market over the past one month till 26 September 2013, sliding 1.13% compared with the Sensex's 7.2% rise. The scrip also underperformed the market in past one quarter, declining 19.63% as against Sensex's 7.23% rise.

The large-cap real estate firm has equity capital of Rs 356.16 crore. Face value per share is Rs 2.

Shares of DLF had declined 20.91% in five trading sessions to settle at Rs 135.55 on Thursday, 26 September 2013, from a recent high of Rs 171.40 on 19 September 2013.

DLF's consolidated net profit declined 38.1% to Rs 181.19 crore on 5.3% growth in net sales to Rs 2314.08 crore in Q1 June 2013 over Q1 June 2012.

DLF's primary business is development of residential, commercial and retail properties. The company has a unique business model with earnings arising from development and rentals.

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