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DLF sheds 3% after it plans to sell 40% stake in rental arm to GIC

On the volume front, nearly 6 lakh shares exchanged hands on the counter on BSE

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Shares of DLF shed nearly 3% after the real estate developer decided to sell 40% of the stake in the company’s rental arm DCCDL for an estimated Rs 12,500 crore-Rs 13,000 crore to an affiliate of Singapore-based private equity firm GIC. Reacting to the development, the stock of the company slipped as much as 2.7% to Rs 149 on the BSE.  On the volume front, nearly 6 lakh shares exchanged hands on the counter on BSE against its two-week average of over 10 lakh shares.  The audit committee of the company on Wednesday approved entering into an exclusive ...