DLF stock hits record low
The Hindu Business Line, February 04, 2009, page 10
Our Bureau
Chennai, Feb. 3 The stock of DLF dropped to Rs 131.85 on the NSE, the lowest since its listing in July 2007. However, it closed a shade better at Rs 132.85 against the Rs 153 on the BSE on Monday. The stock has tumbled nearly 18 per cent in a week and 56 per cent in a month.
According to brokers, the stock has come under severe pressure on concern over its plans to raise funds. The company has plans to raise Rs 2,000 crore through debt. Besides, its December quarter performance was below street expectations, they said.
Most brokerages, including Kotak Securities, Religare, Macquarie, JM Financial and Edelweiss, have either come out with a sell or reduce recommendation on the stock after the company reported third quarter numbers.
The Hindu Business Line, February 04, 2009, page 10
Our Bureau
Chennai, Feb. 3 The stock of DLF dropped to Rs 131.85 on the NSE, the lowest since its listing in July 2007. However, it closed a shade better at Rs 132.85 against the Rs 153 on the BSE on Monday. The stock has tumbled nearly 18 per cent in a week and 56 per cent in a month.
According to brokers, the stock has come under severe pressure on concern over its plans to raise funds. The company has plans to raise Rs 2,000 crore through debt. Besides, its December quarter performance was below street expectations, they said.
Most brokerages, including Kotak Securities, Religare, Macquarie, JM Financial and Edelweiss, have either come out with a sell or reduce recommendation on the stock after the company reported third quarter numbers.
Posts
No comments:
Post a Comment