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DLF shares gained on strong September-quarter results. Shares of the real estate developer rose as much as 4.1 per cent to Rs 178.9, their highest since September 27.
The company’s September-quarter profit rose to Rs 375 crore ($51.56 million) from Rs 14.16 crore. Revenue from operations jumped nearly 35 per cent to Rs 2,139 crore.
The company expects a positive sales momentum for the rest of the FY and targets to lower debt to zero for its development business over the next few quarters.
More than 7.5 million shares traded, compared with their 30-day moving average of about 10 million. DLF stock had fallen about 34 per cent this year as of last close.
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