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Shares of DLF hit the lowest in over 6 months. The real estate developer stock plunged as much as 5.3 per cent to Rs 183.25, its lowest since October 27.
Nearly 8.1 million shares changed hands as of 0510 GMT, 1.4 times the 30-day average volume. The stock was the top percentage loser on the Nifty Realty index, which was trading 0.1 per cent higher.
The company had said on Monday that its Q4 revenue from operations plunged over 38 per cent to Rs 1,378 crore ($202.7 million). Share of profit in associates and joint ventures of DLF stood at Rs 205 crore, compared with a loss a year earlier; the consolidated results were not comparable to prior periods, DLF added.
“Markets are expected to have bottomed out and a revival is on the cards in the medium term,” DLF said in a statement.
Up to Monday's close, the stock had fallen 25.4 per cent this year compared with a 15.6 per cent decline in the Nifty Realty index.
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