DLF slides 3 percent, underperforms rivals

Wed Apr 23, 2014 5:01pm IST

A man cycles past the construction site of a residential apartment building by property developer DLF Ltd. in Gurgaon January 27, 2010. REUTERS/Adnan Abidi/Files

A man cycles past the construction site of a residential apartment building by property developer DLF Ltd. in Gurgaon January 27, 2010.

Credit: Reuters/Adnan Abidi/Files

Related Topics

Stocks

   

Reuters Market Eye - Shares in DLF, India's biggest real estate developer, fell 2.99 percent, sharply under-performing a 0.4 percent gain in the Nifty and posting their sixth decline in the past seven sessions.

Traders say DLF is being hit by perceptions of its ties with the ruling Congress party, which is trailing badly in polls ahead of elections concluding next month.

"I would say DLF has been falling on some perceptions of political connections to Congress and the company's lingering debt burden," said G. Chokkalingam, founder of research and fund advisory company Equinomics.

A DLF spokesman declined to comment. "As per our company policy, we do not comment on market speculation."

DLF has lost around 13.7 percent so far in April, far underperforming rivals. For graphic, click link.reuters.com/reb78v

(Reporting by Abhishek Vishnoi and Aditi Shah; Editing by Kim Coghill)

FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Indian in Iraq

Indian in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage