DLF gains after concluding Lodha deal

DLF, India's leading real estate developer, gained on Friday after it has along with its three wholly-owned subsidiaries-DLF Cyber City Developers, DLF Universal and Jawala Real Estate, have entered into an agreement with Lodha Developers.

This joint venture for divesting the entire stake of the company, DLF Cyber City Developers and DLF Universal in Jawala for an enterprise value estimated to be Rs 27 billion, subject to final adjustments at completion. Shares ofthe companyare trading at Rs 206.50, up Rs 2.15, or 1.05% at the Bombay Stock Exchange (BSE) on Friday at 9:39 a.m.The company has also announced that all conditions by the parties and receipt of payment of all amounts under the agreement totaling to Rs 27.27 billion from Lodha, Jawala has ceased to be a subsidiary of the company.The scrip has touched an intra-day high of Rs 208 and low of Rs 206.40. The total volume of shares traded at the BSE is 90,412.In the earlier session, the shares gained 0.81%, or Rs 1.65, at Rs 204.35. Currently, the stock is trading down 20.99% from its 52-week high of Rs 261.35 and above 21.79% over the 52-week low of Rs 169.55.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 202.90 1.45 0.71 1 Month 228.85 (24.50) (10.71) 3 Months 207.10 (2.75) (1.33) 6 Months 181.85 22.50 12.37 1 Year 245.15 (40.80) (16.64) Note: Based on previous day closing price.