BackDLF shares surge 6% at close as promoters up stake
DLF promoters bought 23 lakh shares of the firm through open market transactions for nearly Rs25 crore, raising their stake to 74.99%
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Mumbai: Shares of realty major DLF were up 6% at close of trade on Thursday after its promoters bought 23 lakh shares of the firm through open market transactions for nearly Rs25 crore, raising their stake to 74.99%.
The stock surged 6.03% to settle at Rs113.45 on BSE. During the day, it soared 8.83% to Rs116.45. At NSE, shares of the company climbed 5.97% to close at Rs113.55.
The company’s market valuation rose by Rs1,150.86 crore to Rs20,228.86 crore. In terms of volume, 32.11 lakh shares of the company changed hands at BSE and over two crore shares were traded at NSE during the day.
The 23 lakh shares were purchased on 23 and 24 November from the open market, the country’s largest real estate company has said in a regulatory filing. Post the transactions, the stake of promoters K.P. Singh and family in the firm has increased to 74.99%, from the earlier 74.86%.
As per the minimum public shareholding norms of markets regulator Sebi, promoters cannot hold more than 75% shares in a company.
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