DLF shares falls 20%, most in more than two years after Supreme Court notice
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New Delhi, Aug. 22 -- DLF Ltd, India's largest real estate developer by market value, fell as much as 19.41% to Rs.138.30 per share the most in more than two years after Supreme Court issues notice on Non-Disclosure of key information on QIP.
The stock fell for third day in a row to its lowest since February 2017, worst performer on S&P BSE 200, NSE Nifty 100 indexes. DLF also the biggest decliner on the S&P BSE Realty index, its steepest drop since November 2016. Other real-estate stocks Indiabulls Real Estate fell 4%, Oberoi Realty fell 6%.
The Supreme Court has issued a notice to the company based on a petition that highlighted how it had suppressed key information regarding judicial proceedings against its largest chunk of land-bank...
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