Shares of realty major
DLF took a hit in morning trade on the bourses on Wednesday, falling by 5 per cent on the
National Stock Exchange (NSE) after the company reported a drop in consolidated net profit for the quarter ended March 31, 2011.
On the NSE, the stock plunged by 5.02 per cent to hit a one-year low of Rs 208.10.
In a similar fashion, the scrip of the country's largest realty firm fell by 4.97 per cent to touch a 52-week low of Rs 208.05 on the Bombay Stock Exchange (BSE).
According to analysts, the company's quarterly profit missed market estimates, resulting in the stock coming under selling pressure.
DLF reported a 19.19 per cent fall in consolidated net profit to Rs 344.54 crore for the last quarter of 2010-11.
The company had registered a net profit of Rs 426.38 crore in the corresponding quarter last year.
Meanwhile, the broader market bellwether Sensex was trading at 17,945.49, down by 66.48 points, at 10.18 hours.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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