Investors lose Rs 7,300 crore as DLF stocks dip after SEBI ban

New Delhi, Oct 15: A day after

banned property developer

Ltd and some of its executives from accessing capital markets for three years, citing non-disclosure violations related to its 2007 initial public offering, the share prices of DLF crashed 28.5 per cent to Rs 105 on Tuesday on BSE.

The ban has effected investors as Rs 7,300 crore of investors' wealth with its market cap now at Rs 18,702 crore, came down from Rs 26,141 crore as of Monday's close. The stock crashed at 29 per cent.
Many brokerages on Tuesday cautioned investors about the drop.

Recently DLF even had to pay a fine of Rs 630 crore for misusing its position in three Gurgaon societies and one of its land deals in Wazirabad was recently cancelled.

The ban could also affect the state of Haryana as most of DLF projects are in the state.

OneIndia News