Investors dump DLF stock on fears of investigations if NDA comes to power?

Stocks

oi-Sunil

By Sunil Fernandes

Published: Wednesday, April 23, 2014, 10:42 [IST]

Each time Robert Vadra's name resurfaces in land deals, the DLF stock comes under pressure. The stock has now come down from Rs 175 on April 15 to Rs 158 on April 23. Today, the stock is down 2 per cent in a rising market.

The worries now are that if the NDA comes to power, there may be an investigation into the land deals between Sonia Gandhi's Son-in-Law Robert Vadra and the DLF group. There have been allegations of land deals and interest free loans in exchange of political favor between the two.

The thought of investigations in the deals between the Robert Vadra and DLF if a new government under Narendra modi takes shape is worrying investors in DLF. Nobody knows what make come out, should there be an investigation.

"How can a person, who had just a few lakhs of rupees, have earned Rs 300 crore in a small span of time of five years?" Bharatiya Janata Party and its candidate from Jhansi Lok Sabha seat, Uma Bharti, asked while talking to reporters in Lalitpur earlier this week. The former Chief Minister of Madhya Pradesh said, "I will send Vadra to jail if I get power after the elections even if the BJP is annoyed."

Last week BJP's prime ministerial candidate Narendra Modi fired a fresh salvo at the Congress, terming the UPA a "mother-son" government and raking up the alleged land deals of Robert Vadra by saying that the country wants to know about the "RSVP (Rahul, Sonia, Vadra, Priyanka) model".

However, he said that if the BJP comes to power, there will be no vengeful action against Robert Vadra.

Whether there would be an investigation or not by a new government is another matter, for the time being investors are a worried lot and are dumping the DLF stock.

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