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DLF surges on the buzz of sealing a deal for Aman Resorts

29 Nov 2012 Evaluate

DLF is currently trading at Rs 209.00, up by 3.85 points or 1.88% from its previous closing of Rs 205.15 on the BSE.

The scrip opened at Rs 205.15 and has touched a high and low of Rs 209.90 and Rs 205.15 respectively. So far 271046 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 261.35 on 22-Feb-2012 and a 52 week low of Rs. 169.55 on 04-Jun-2012.

Last one week high and low of the scrip stood at Rs. 209.90 and Rs. 197.55 respectively. The current market cap of the company is Rs 35541.41 crore.

The promoters holding in the company stood at 78.58% while Institutions and Non-Institutions held 16.36% and 5.06% respectively.

Largest real estate company, DLF, is pretty close of selling its international hotel chain, Aman Resorts, to a US-based investment company in  a deal which is expected to be valued to the worth for $325 million (Rs 1,800 crore), as mentioned in a media report. DLF is to offload its stake in the chain, retaining the Aman property in Delhi only.According to reports, Starwood Capital Group is leading the race to buy the chain. Starwood Capital Group is a private investment firm headquartered in Greenwich, Connecticut. The businesses owned by the firm include Starwood Property Trust, Inc., Starwood Energy Group Global, L.L.C., Starwood Real Estate Securities, L.L.C., and SH Group.

It was earlier reported that DLF, is planning to raise about Rs 2,500 crore by end of this fiscal from sale of its two non-core businesses, luxury hospitality chain Amanresorts and wind energy business. The sale proceeds would be utilized to trim the net debt of the company, which were at Rs 22,680 crore as on June 30, 2012.

Further, uptill June 2012, the company raised Rs 5,213 crore from sale of non-core assets. With closure of Mumbai land deal, the proceeds from divestment of such assets have reached nearly Rs 8,000 crore. In August, DLF announced sale of this land parcel to Lodha Developers for about Rs 2,700 crore, almost four times higher than the price it paid for its acquisition in 2005.

DLF Share Price

601.80 12.10 (2.05%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Lodha Developers 871.70
Dilip Buildcon 457.55
DLF 601.80
Oberoi Realty 1710.00
Ahluwalia Contract(I 832.90
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