DLF share climbs 3% ahead of Q2 earnings, mid-income housing strategy may be unveiled

Share price of DLF gained 3% ahead of the firm's Q2 earnings today. The stock has gained after 5 days of consecutive fall. The stock touched an intraday high of Rs 157.7, gaining 2.94%. DLF share trades higher than 100 day moving averages but lower than 5 day, 20 day, 50 day and 200 day moving averages. The share has lost 14.52% in one year and fallen 32.82% since the beginning of this year.

Total 4.60 lakh shares changed hands amounting to turnover of Rs 7.14 crore on BSE. Market cap of the firm rose to Rs 38,392 crore.

Viral video shows roof of DLF Mall of India in Noida collapsing; mall says planned demolition

Key thing to watch out for in DLF's earnings will be its strategy to enter mid-income housing segment. Residentila projects are likely to be launched in the Rs 60-80 lakh price category, as demand for homes in the affordable category is relatively better in a tepid residential market.

In  October,  DLF raised funding through the LRD route against two rental assets of 2.4 million sq ft in CyberCity, Gurugram. This was one of the largest lease rental discounting (LRD) deals in recent times funds from which will be used to refinance existing debt and  balance will be used to fund future expansion.

In Q1 of the current fiscal, the  India's largest real estate firm reported a consolidated net loss of  Rs 71.52 crore against a net profit of  Rs 413.94 crore in the corresponding quarter of last fiscal.

Meanwhile, market indices turned bearish on Friday, amid negative Asian equities. Sensex traded 400 points lower at 39,344 and Nifty fell 110 points to 11,561.

DLF stock climbs 3.5% after firm raises Rs 2,400 crore from SBI