Why DLF share price rose 13% today
DLF shares hit fresh 52-week high of Rs 277.8, up 12.46 per cent, on the Bombay Stock Exchange amid strong volume
BusinessToday.In | January 12, 2021 | Updated 14:51 IST
DLF shares delivered a return of 142 per cent over the last nine months
Shares of DLF rallied nearly 13 per cent in intraday trade to hit record high of Rs 277.8 on the Bombay Stock Exchange on Tuesday amid strong volume. Analysts have turned bullish on realty stocks, such as Godrej Properties and DLF, citing demand revival and shifting consumer preferences in wake of COVID-19 pandemic.
Brokerage firm Jefferies has projected that residential sales may cross 2019 levels and prices will rise over 10 per cent over next two years. It expects inventory to fall to 8-year low by end of 2021. The brokerage firm has selected Godrej Properties and DLF as top picks in the real estate sector.