India's DLF at 16-year high on pact to acquire land parcels

DLF

21/02/2024 06:20

** Shares of property developer DLF  DLF.NS  rise as much as
2.8% to 888 rupees, their highest level since Feb 18, 2008
    ** DLF said on Tuesday its unit entered a settlement
agreement with Axis Trustee Services and IREO to acquire land
parcels in Haryana, Gurugram for 12.41 billion rupees ($149.7
million) 
    ** Average analyst rating at "buy"; median PT is 786 rupees,
a discount of 9% to stock's last close - LSEG data
    ** Stock trading above 50-, 100- and 200- day simple moving
average since Oct 26, 2023
    ** Stock up nearly 22% so far in 2024 vs a 15.5% increase in
Nifty realty index  .NIFTYREAL 

   ($1 = 82.8900 Indian rupees)

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))