Skip to main content
DLF falls 9%, Haryana govt cancels 350-acre land allotment DLF is set to challenge the HC order citing that the company got the land parcel in an international competitive bidding process. Shares of DLF tumbled 9 percent intraday on Thursday as worried investors are busy offloading the stock after the Haryana government cancelled the 350-acre land allotment made to the company in 2010. In a major blow to real estate firm DLF , the Punjab & Haryana High Court has cancelled the allotment of 350 acre land to the company by the Bhupinder Singh Hooda government in Haryana. The ruling comes a week after the Supreme Court had ordered DLF to pay Rs 630 crore penalty imposed by the competition watchdog CCI as a pre-condition for hearing the company's appeal. According to sources, DLF is set to challenge the HC order citing that the company got the land parcel in an international competitive bidding process. JP Morgan has a neutral rating on the stock with a price target of Rs 210 per share stating that the cancellation does not have any impact on price target. "This would be cash positive (refund on cancellation) and also reduce the annual cash outgo on land by Rs 4 billion (deferred land payment) thereby bringing down the cash flow deficit in the business. On an NAV basis, we estimate the impact would be around Rs11/share," it said in a report.

Comments

Post a Comment

Popular posts from this blog

NDPMS Stock Advisory

It is entirely possible that NDPMS could have, from time to time, some trading or investment positions in the stocks being discussed on the blog. This blog is not intended for distribution to, or use by, any person or entity, any jurisdiction or country, where such distribution or use would be contrary to local law or regulation. Reproduction in whole or in part without written permission is prohibited.
Post a Comment
Read more

12.1% Equity Return in 10 days !! Review it to believe it !!

This is a pseudo folio. The base folio amount was kept at Rs 1 lakh and was created on September 26, 2015. Most of the positions are still open hence please consider this post as an update on the folio.The folio heat was kept at 10% which in simpler words mean that of all position gets their stop losses hit, the folio will drop maximum by 10%. Risk reward ratio is kept at 3:1 which implies that target points are set at 3 times the risks per position taken. This post is subjected to promotion of NDPMS Stock Markets Training Program. Please read the disclaimer before forming any opinions about the post, stock markets or NDPMS Wealth Management. Disclaimer: The intention of this post is not at all to entice the blog viewers to take up NDPMS Advisory Service. The post is solely used to promote NDPMS Training Program. It is entirely possible that NDPMS could have, from time to time, some trading or investment positions in the stocks being discussed on the blog. This blog is not int...
1 comment
Read more

Professional Trading !!

Professional Trading is a profession where an individual makes his living from trading in stock and commodity markets. A professional that involves prolonged training and experience. It provides you with other various opportunities. It gives you freedom of time and money. It has no competition threat. There are no deadlines, no geographical deadlines, no dependency on staff. You are your own boss.  When people come to the world of trading many think that they only need to learn a strategy and follow the rules of that strategy and they do this for a while. The problem with those who do not first get a good foundation of the markets is that when the markets change or when they have a draw down they start making mistakes. Those mistakes lead to self sabotage even in the healthiest of minds. The process of trading is only enjoyable when your sub conscious mind figure out the right ways for trade. In other words those who start with passion very often find that those feelings are...
Post a Comment
Read more