DLF gains on selling 74% equity stake in its Insurance JV

26 Jul 2013 Evaluate

DLF is currently trading at Rs. 177.90, up by 2.80 points or 1.60% from its previous closing of Rs. 175.10 on the BSE.

The scrip opened at Rs. 177.00 and has touched a high and low of Rs. 179.50 and Rs. 177.00 respectively. So far 56,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 289.20 on 12-Mar-2013 and a 52 week low of Rs. 161.25 on 24-Jun-2013.

Last one week high and low of the scrip stood at Rs. 177.75 and Rs. 165.60 respectively. The current market cap of the company is Rs. 31,661.00 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 20.19% and 4.82% respectively. 

DLF has signed a definitive agreements to sell its 74% equity stake in its the Life Insurance Joint Venture - DLF Pramerica Life Insurance Company, a joint venture with Prudential International Insurance holdings (PIIHL), a subsidiary of Prudential Financial, Inc USA 'PFI' to Dewan Housing Finance Corporation (DEIFL) & its group entities. These agreements are subject to regulatory approvals. The transaction is in line with the DLF's ongoing strategy to divest non-core assets.

DLF, founded by billionaire Kushal Pal Singh, has a land bank of 10,255 acres, the biggest in the real estate sector. At its peak, its debt pile stood at Rs 23,000 crore.

DLF Share Price

402.15 -2.55 (-0.63%)
09-Dec-2022 18:01 View Price Chart
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