DLF touched a yearly high of Rs 281.80 in an otherwise flat trading session today. At 1220 hrs, the stock was up 2.7% at Rs 280.
The stock of the country's largest real estate company, has appreciated since the management announced its intention to reduce its debt by half to Rs 11,000-12,000 crore over the next 2-3 years.
Also, the company posted a 103% increase in its net profit at Rs 285 crore for the third quarter, compared to the same period in the previous year. It is after nine straight quarters that India’s largest realty player’s profit is showing signs of improvement.
Today, the stock opened at Rs 272 which was also the low for the day. A total of over seven million shares changed hands on the BSE and NSE.
