DLF was among the top losers on the bourses yesterday, on the back of major bulk deals.
The major fall was on account of Singapore Govt selling 6.8 crore shares via bulk deals on the NSE at Rs.191/share. Singapore Govt earned Rs.1300 crore.
Post this share sale, its stake in DLF now stands at a measly 0.3% from the earlier 4.11%.
Currently, the only buzz which will help the stock price is news on its debt reduction plans. As at 31st Dec’18, its net debt stood at Rs.7224 crore and its aim is to bring this down to 1500-1700 crore in current fiscal of FY20.
The stock price yesterday slipped by almost 8.5% but today, it has bounced back, opening a Rs.186 and currently its just about holding on to the green, up less than 0.5%.