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DLF shares gain nearly 2% on fund raising plans

 The Hawk |  2015-07-16 08:29:44.0  0  Comments

Mumbai: Shares of realty major DLF on Wednesday rose by nearly 2 percent following reports that the company is likely to raise about Rs 2,500-3,000 crore by next month via private equity. The stock ended 1.88 percent higher at Rs 116.70 on the BSE. During the trade, shares of DLF gained 3.18 percent to Rs 118.20. At the National Stock Exchange, the scrip settled at Rs 116.70, up 2 percent from its previous closing price. On the volume front, 7 lakh shares of the company changed hands at the BSE and over 48 lakh shares were traded at the NSE during the day. DLF is likely to raise about Rs 2,500-3,000 crore by next month via private equity and is in talks with Singapore government's investment arm GIC to sell stake in a new housing project here. According to market sources, the company is in advanced stage of talks with sovereign wealth fund GIC to sell up to 49 per cent stake in the new residential project in the National Capital. The deal is expected to close in the next one month, they said. PTI

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