CorporateDLF gains on metro rail fund raising plans
DLF rallied nearly 3% to Rs 373. The scrip touched an intra-day high of Rs 376. Around 3.9 million shares changed hands at the counter as against its two-week average traded quantity of 3.8 million shares.
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DLF has recovered and is now up 2% to Rs 369,after touching a high of Rs 370, owing to the development that it will raise Rs 700 crore for a privately financed metro rail project.
The stock touched a low of Rs 350 during noon trades, after opening at Rs 358. The counter saw trades of over 3 million shares as aginst its two-week average traded quantity of 3.8 million shares.
DLF, the country’s largest realty developer will held a 26% stake in a yet to form partnership with infrastructure financing company IL&FS for the project, while the remaining 74% would be held by IL&FS.