Shares of DLF surged by as much as 6 per cent in early trade on the bourses today after the country’s largest real estate player said it is “exploring various strategic options”, including the sale of its holdings in an IT park in Noida.

In a filing to the Bombay Stock Exchange (BSE) yesterday, DLF said its IT park in Noida is a joint venture entity, wherein DLF holds a stake through its wholly-owned subsidiary.

DLF’s subsidiary is “exploring various strategic options, including the sale of its holding in the joint venture company,” the filing added.

DLF opened on a bullish note on BSE and surged to a high of Rs 195.25, up 5.82 per cent from its previous closing price.

In a similar fashion, after opening firm at Rs 188.40 on the National Stock Exchange, DLF rallied ahead to a high of Rs 195.60, up 6.07 per cent from its last closing price.

DLF was later trading at Rs 191, up 3.52 per cent on BSE, and at Rs 191.40, up 3.80 per cent on NSE, at 1059 hours.

DLF had earlier announced plans to raise up to Rs 7,000 crore in the next two-three years from the sale of non-core assets to cut its net debt, which stood at Rs 21,524 crore as of June 30, 2011.

Meanwhile, the scrip of IDFC —— which is in talks with DLF on a “business proposal” —— jumped by 2.38 per cent to a high of Rs 113.55 on BSE and soared by 2.48 per cent to touch a high of Rs 113.60 on NSE.

The stock was later trading at Rs 112.60, up 1.53 per cent on BSE, and at Rs 112.75, up 1.71 per cent on NSE, at 11.09 a.m.

The company said it evaluates opportunities for loans and investments in infrastructure projects from time to time as part of its normal business and opportunities “may or may not lead to any deal as aforesaid”.

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