High-return Hopes Lure Bargain Hunters To Dlf

SHARES of real estate firm DLF rose 3% in a lacklustre market to close at Rs 272.25

. The move was supported by good volumes, with over 21 lakh shares being traded on the Bombay Stock Exchange (BSE), compared with the two-week average daily volume of around 17 lakh shares. Dealers tracking the DLF counter say bargain hunters have begun nibbling at the stock, as they feel the risk-reward ratio has improved after the 10% correction following the fourth quarter earnings. Some analysts are still bullish on the stock saying that DLF remains the leader in the sector and will be best placed to benefit from a pan-India recovery in property prices. However, another section says investors betting on DLF shares will have to be patient. They point out that a near-term recovery in the stock price will depend on the companys ability to retire around Rs 5,000 crore of debt this financial year through a mix of internal accruals and sale of non-core assets.

Courtesy ET Dtd: 16/06/2010

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