For Quick Alerts
For Daily Alerts

DLF Rallies On Reports That Promoters Will Sell Stake In Rental Arm


Shares in real estate major DLF rallied on reports that the promoters of the company will sell a stake in their rental arm.

The shares of the company were trading higher by almost 2 per cent at Rs 141 on the NSE.

DLF Rallies On Reports That Promoters Will Sell Stake In Rental Arm
According to media reports DLF promoters K P Singh family will sell their 40 per cent stake in the company's rental arm - DLF Cyber City Developers - for an estimated Rs 14,000 crore to institutional investors.

The promoters will reinvest a significant part of the amount realised from the sale in DLF Ltd.

The decision was taken by the DLF's board of directors in its meeting held here on Thursday based on the recommendation by the audit committee, which was set up last year to suggest ways to drive the growth of rental business.

Read more about: dlf
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more