1. DLF shares jump over 2% on report of receiving over $1bn bids for rental unit stake sale

DLF shares jump over 2% on report of receiving over $1bn bids for rental unit stake sale

DLF shares jumped on Tuesday on media reports that Blackstone Group, GIC of Singapore and Brookfield Asset management have bid $ 1 billion for a 40 pct stake in its commercial property unit, DLF Cyber City Developers (DCCDL).

By: | Updated: June 14, 2016 4:25 PM
DLF shares DLF shares jumped on Tuesday on media reports that Blackstone Group, GIC of Singapore and Brookfield Asset management have bid $ 1 billion for a 40 pct stake in its commercial property unit, DLF Cyber City Developers (DCCDL). (Express Photo)

DLF shares jumped over 2 per cent intraday on Tuesday on media reports that Blackstone Group, GIC of Singapore and Brookfield Asset management have bid $ 1 billion for a 40 per cent stake in its commercial property unit, DLF Cyber City Developers (DCCDL)

At 1.02 pm, shares of the realty firm were trading 1.84 per cent up at Rs 132.90. The scrip opened at Rs 133 and has touched a high and low of Rs 134 and Rs 132.05, respectively, in trade so far.

Later, the scrip closed 1.65 per cent up at Rs 132.65.

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According to Reuters, DLF spokesman has called the media report as “speculative”.

Blackstone Group, GIC and Brookfield Asset Management are reported to have separately submitted over $1 billion bids to acquire 40 per cent stake in the its commercial property unit.

For the quarter ended March 31, 2016, DLF reported a net profit of Rs 132.39 crore, down 22.86 per cent, against Rs 171.62 crore in the corresponding quarter a year ago.

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