DLF surges on entering into business transfer agreement for 150 MW capacity wind turbines

31 Jan 2013 Evaluate

DLF is currently trading at Rs. 276.10, up by 3.40 points or 1.25% from its previous closing of Rs. 272.70 on the BSE.

The scrip opened at Rs. 271.10 and has touched a high and low of Rs. 277.90 and Rs. 271.00 respectively. So far 815615 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 277.90 on 30-Jan-2013 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. 274.80 and Rs. 244.00 respectively. The current market cap of the company is Rs. 47103.16 crore.

The promoters holding in the company stood at 78.58% while Institutions and Non-Institutions held 15.86% and 5.56% respectively.

DLF has entered into definitive business transfer agreement (BTA) with BLP Vayu (Project 1), a subsidiary of Bharat Light & Power for transferring of its undertaking comprising of 150 MW capacity wind turbines situated at Kutch, Gujarat on ‘as is where is basis’ by way of slump-sale for a lump sum consideration of Rs 282.30 crore. DLF along with DLF Home Developers, the company’s wholly owned subsidiary has 227 MW capacity wind turbines in 4 states engaged in generation of electricity and sale of the same.

Pursuant to the fulfillment of the terms and conditions by both the parties in accordance with the said agreement, the undertaking as mentioned above including related assets and liabilities along with relevant long term loans would be transferred to BLP Vayu (Project 1). The shareholders of the company had approved the sale in July, 2012.

The transaction is expected to be consummated on receipt of requisite regulatory approvals. The transaction is in line with the DLF’s objective of divesting its non-core assets.

DLF Share Price

840.90 -6.45 (-0.76%)
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Dilip Buildcon 424.50
Macrotech Developers 1337.00
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Prestige EstatesProj 1624.95
DLF 840.90
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