DLF extends fall, down 18% in eight days

Haryana government official Ashok Khemka cancelled a 3.5-acre land mutation in Manesar.

DLF is trading lower by 3% at Rs 201 extending its previous day’s over 4% fall on reports that a Haryana government official Ashok Khemka cancelled a 3.5-acre land mutation, or change in ownership, in Manesar, threatening to impact the realtor’s commercial projects at the site.

“If the cancellation comes into effect, DLF will fail to get the title of the prime land and it will remain in the name of Sky Light Hospitality,” the report suggests.

The stock has underformed the market by falling 18% in past eight trading days afer Arvind Kejriwal, a social activist-turned-politician has accused DLF of favouring Robert Vadra, son-in-law of Congress chief and the UPA Chairperson Sonia Gandhi, with easy loans for some undue gains.

 

The stock opened at Rs 206 and hit a low of Rs 200 on the NSE. A combined 19.33 million shares have changed hands on the counter so far on the NSE and BSE.