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Realty major DLF and US-based Hines will invest around Rs 1,300 crore to construct the first phase of a premium commercial project, largely office space, in Gurugram, a senior company official said. The construction of this project, comprising 2.55 million sq ft area in the first phase, has started, Managing Director of DLF Rental Business Sriram Khattar said.
DLF and Hines had formed a joint venture in March last year to develop this project on a 11.76 acre land parcel bought by DLF in 2018 for nearly Rs 1,500 crore through an e-auction conducted by the Haryana government. In March last year, DLF sold 33 per cent stake in this commercial project to Hines for around Rs 650 crore.
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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.
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Top stocks to watch – RIL, Coal India, Lupin, DLF, NIIT, Reliance Capital, Cadila Health, Dish TV, Vedanta, and others
Top stocks to watch – RIL, Coal India, Lupin, DLF, NIIT, Reliance Capital, Cadila Health, Dish TV, Vedanta, and others
Rounak JainDec 28, 2020, 08:56 IST
BCCL
Here’s a list of stocks to watch for in trade today.
Indian stock markets could extend their gains on Monday after the Nifty crossed the 13,700 level on Thursday last week.
At 8:30 am, SGX Nifty was up by 50 points, or 0.37%, suggesting that the Indian stock exchanges could have a positive start to the day. With the
Trump administration signing the $2,000 stimulus relief cheques with bipartisan support, the US stock exchanges could bounce back.