DLF tumbles on profit booking

DLF tumbled 5% to Rs 170.20 at 14:50 IST on BSE, with the stock sliding on profit booking after recent steep rally.

Meanwhile, the S&P BSE Sensex was down 63.93 points or 0.29% at 21,792.29.

On BSE, so far 11.79 lakh shares were traded in the counter as against daily volume of 8.09 lakh shares in the past one quarter.

The stock hit a high of Rs 181.55 and a low of Rs 164.50 so far during the day. The stock had hit a record low of Rs 120.25 on 6 August 2013. The stock had hit a 52-week high of Rs 289.20 on 12 March 2013.

The stock had outperformed the market over the past one month till 12 March 2014, surging 28.01% compared with the Sensex's 6.88% rise. The scrip had also outperformed the market in past one quarter, jumping 14.69% as against Sensex's 4.45% rise.

The large-cap real estate company has equity capital of Rs 356.29 crore. Face value per share is Rs 2.

Shares of DLF were on a roll recently. The stock had rallied 28.88% in seven trading sessions to settle at Rs 179.15 on Wednesday, 12 March 2014, from a recent low of Rs 139 on 3 March 2014.

DLF's consolidated net profit fell 49% to Rs 145.29 crore on 57.1% growth in net sales to Rs 2058.42 crore in Q3 December 2013 over Q3 December 2012.

DLF has 314 million square feet (msf) of planned projects with 52 msf of projects under construction. 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. Its exposure across businesses, segments and geographies, mitigates any down-cycles in the market. From developing 22 major colonies in Delhi, DLF is now present across 15 states-24 cities in India.

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