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

DLF share gained over 3% today after the firm's rental arm raised Rs 2,400 crore from State Bank of India (SBI). The stock has gained 5.18% in the last 2 days. The stock touched an intraday high of Rs 167.9, gaining 3.45%.

DLF share trades higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

The share has lost 3.64% in one year and fallen 29.57% since the beginning of this year. Total 3.33 lakh shares changed hands amounting to turnover of Rs 5.47 crore on BSE. Market cap of the firm rose to Rs 40,372 crore.

According to a Mint report, this is one of the largest lease rental discounting (LRD) deals in recent times

DLF has raised the funding through the LRD route against two rental assets of 2.4 million sq ft in CyberCity, Gurugram. The size of the loan demonstrates the company's diverse tenant profile and its ability to generate long long-term cash flows from its real estate asset portfolio, said the Mint report.

Meanwhile,Sensex gained 457 points to 40,440 and Nifty rose 116 points to 11,869  amid positive Asian equities.

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