Comments
Largest developer DLF tumbled the most in more than two years after The Hindu BusinessLine reported that Supreme Court issued the company a notice for not disclosing key information. At 3.20 pm, the stocks of DLF were trading 16.35 per cent lower at ₹143.55.
Read more:Supreme Court issues notice to DLF, SEBI on non-disclosure of key information in QIP
The stock was trading 17 per cent lower in third day of declines, the worst performer on S&P BSE 200, NSE Nifty 100 indexes. DLF was also the biggest decliner on the S&P BSE Realty gauge, which is set for its steepest drop since November 2016, the most among 19 sector sub-indexes compiled by BSE Ltd. Other real-estate stocks trading in negative were Indiabulls Real (-4 per cent) and Oberoi Realty (-6 per cent).
“The court notice may lead to a big penalty along with further legal inquiry,” said Sameer Kalra, founder of Target Investing in Mumbai.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.