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DLF up 7% ahead of audit, board meet on August 25

The committee will consider and review the status of proposed sale of CCPS to a GIC affiliate.

DLF
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SI Reporter Mumbai
DLF has moved higher by 7% to Rs 189 on BSE in intra-day trade, after the company said that its board will meet on Friday, August 25, to consider stake sale in rental arm.

“A meeting of the Audit Committee is scheduled to be held on August 25, 2017 to consider and review the status of proposed sale of cumulative compulsorily convertible preference shares (CCPS) held by CCPS Holders to a GIC affiliate including the key terms and conditions and make appropriate recommendation of the board,” DLF said in a regulatory filing.

The board will in its meeting