DLF shares rebounds almost 10 pct from record low on value buying

DLF stock slumped 28.6 per cent on Tuesday after Sebi banned it from capital markets for 3 years.

By: Reuters | Mumbai | Published: October 16, 2014 11:24 am
DLF shares had rebounded after initially hitting a record low of Rs 100.10 on Tuesday. DLF shares had rebounded after initially hitting a record low of Rs 100.10 on Tuesday.

Shares in India’s biggest property developer DLF Limited surged nearly 10 per cent on Thursday after starting the session by slumping to a record low as investors were attracted by cheaper valuations following a recent slump.

DLF slumped 28.6 percent on Tuesday after securities regulator SEBI banned it from the capital markets for three years over violations related to disclosures for its 2007 listing.

But on Thursday shares rebounded after initially hitting a record low of Rs 100.10. Markets were closed on Wednesday for state elections.

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