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DLF shares fall for 3rd day; stock down over 5%

Last Updated: Wednesday, October 10, 2012 - 18:18

Mumbai: Shares of DLF fell by over 5 percent Wednesday on fresh allegations by activist Arvind Kejriwal about company's dealings with Robert Vadra and the Haryana government, even as the realty major rejected the charges.

The stock settled at Rs 213, down 5 percent on the BSE. At NSE, the stock closed at Rs 212.10, down 5.4 percent.

The stock has been under pressure for the last three days. The market value of DLF has eroded by Rs 4,880 crore.

"The negative news flow on the company is affecting the stock price. The stock has plummeted close to 12 percent in the last three days," Milan Bavishi Head Research Inventure Growth & Securities said.

Arvind Kejriwal on Tuesday demanded a probe by retired Supreme Court judges into the business relationship between Robert Vadra and DLF and a white paper by the Haryana government on benefits it allegedly gave to the realty major.

DLF, however, rejected the allegations saying, "We stand by our earlier statement and wish to once again specifically state that DLF has neither sought nor enjoyed any special favours from the Government of Haryana and all developments of DLF undertaken over the last four decades are strictly in compliance with all applicable laws, rules and regulations with an adherence to the highest ethical standards."

The company had said an attempt was being made to sensationalise issues which are already in the public domain.

The Haryana government has also rejected Arvind Kejriwal's charge about a nexus between state officials and DLF.


First Published: Wednesday, October 10, 2012 - 13:05
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