DLF lost 7.84% to Rs 110.50 at 12:24 IST on BSE on reports that the new BJP led state government in Haryana would inquire into all land scams, including the controversial deal with UPA chairperson Sonia Gandhi's son-in-law Robert Vadra.
Meanwhile, the BSE Sensex was up 3.72 points, or 0.01%, to 26,854.77
On BSE, so far 20.48 lakh shares were traded in the counter, compared with an average volume of 17.68 lakh shares in the past one quarter.
The stock hit a high of Rs 117.50 and low of Rs 109.35 so far during the day. The stock hit a 52-week high of Rs 242.80 on 9 June 2014. The stock had hit a record low of Rs 100 on 16 October 2014.
The stock had underperformed the market over the past one month till 23 October 2014, falling 23.04% compared with Sensex's 0.28% rise. The scrip had also underperformed the market over the past one quarter, declining 44.18% as against Sensex's 2.69% rise.
The large-cap company has an equity capital of Rs 356.39 crore. Face value per share is Rs 2.
As per reports, the new Bharatiya Janata Party (BJP) led state government in Haryana would inquire into all land scams, including the controversial deal between UPA chairperson Sonia Gandhi's son-in-law Robert Vadra and realty giant DLF. The BJP garnered a majority in the recently held state elections and Manohar Lal Khattar took oath as Haryana Chief Minister yesterday, 26 October 2014.
DLF had on 17 October 2014 approached the Securities Appellate Tribunal (SAT) to challenge a Securities and Exchange Board of India (Sebi) order barring it and its six top executives from securities markets for three years. The regulatory action stemmed from the DLF management's failure to disclose material information to investors during the firm's initial public offer (IPO) in 2007. DLF's IPO in 2007 had fetched Rs 9187 crore -- the biggest IPO in the country at that time. The SAT will hear the matter on 30 October 2014.
On a consolidated basis, DLF's net profit fell 29.5% to Rs 127.77 crore on 24.7% decline in total income to Rs 1851.60 crore in Q1 June 2014 over Q1 June 2013.
DLF's primary business is development of residential, commercial and retail properties.
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