DLF shares recover after steep fall

Nov 15 2012, 15:09 IST
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DLF shares had fallen 5.2 percent over the three previous sessions. (Reuters) DLF shares had fallen 5.2 percent over the three previous sessions. (Reuters)
SummaryDLF shares had fallen 5.2 percent over the three previous sessions.

Shares in DLF Ltd recover to rise 1 percent after falling as much as 1.6 percent in early trading.

The shares had initially slumped after DLF said late on Monday July-September net profit slumped 63 percent from a year ago, hit by slowing home sales.

DLF shares had fallen 5.2 percent over the three previous sessions.

However, analysts say the company's management indicated on a call that the second quarter was likely to be a trough and guided for an improvement in launches, continued debt reduction, and potential asset sales.

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