Update: DLF shares rebound from record low to end 5% higher

DLF shares bounced back to Rs 110.35 after hitting a fresh lifetime-low of Rs 100 in early trade on Thursday, surging over 5 per cent on value buying at lower levels.

After hitting a fresh life-time low with a 4.71 per cent fall intra-day, shares of the realty major made a come back and finally ended with a gain of 5.15 per cent on the Bombay Stock Exchange (BSE).

The stock gained ground on value buying at lower levels, which was less than half the level of its 52-week high of Rs 242.80 a piece.

During the day, DLF's scrip touched a high of Rs 115.85, reflecting a gain of over 10 per cent from its previous close.

At the National Stock Exchange (NSE), the stock closed 5.57 per cent higher at Rs 110.80, to become the top gainer among the 50-bluechips Nifty scrips.

Following buying in the stock, DLF's market value rose by Rs 962.24 crore to Rs 19,663.57 crore from Rs 18,701.33 crore on Tuesday.

During the day, over 6 crore shares of the realty company changed hands at the NSE, while 128 lakh shares were traded at the BSE.

Shares of DLF had on Tuesday plunged nearly 30 per cent after market regulator Securities and Exchange Board of India (Sebi) imposed a three-year ban on the company and its top executives from capital markets.

The realty major's shares were trading with circuit limits, with the upper limit for the day fixed at Rs 120.65 and the lower end at Rs 94.50 on the BSE.

On Tuesday, DLF's market valuation had fallen by Rs 7,438.67 crore. Out of this, the promoters took the biggest hit of about Rs 5,500 crore, while overseas investors also saw the value of their holding plunge by nearly Rs 1,500 crore.

There are 334 foreign institutional investors (FIIs) in the company who hold over 35 crore shares in the realty firm.

The hit for small retail investors was little over Rs 200 crore, while that for HNIs was Rs 48 crore.

Sebi has barred DLF as well as its six top executives, including chairman and main promoter KP Singh, from the securities market for 3 years for "active and deliberate suppression" of material information at the time of its initial public offer (IPO) in 2007.

Besides KP Singh, those barred from the markets include his son Rajiv Singh (Vice Chairman), daughter Pia Singh (Whole Time Director), Managing Director T C Goyal, former CFO Ramesh Sanka and former ED (Legal) Kameshwar Swarup.

DLF said it has not violated any laws and would defend itself against any adverse findings in the Sebi order.

The order can be challenged at Securities Appellate Tribunal.

While the capital market watchdog has not imposed any monetary penalty, the prohibition order would bar DLF and the six persons from any sale, purchase or any other dealings in securities markets for a period of three years, including for raising funds.

DLF had over Rs 19,000 crore of debt as on June 30, 2014, while its already-proposed fund raising plans include nearly Rs 3,500 crore through issue of certain bonds to lower debts.