DLF gains after ICRA reaffirms rating on NCD, bank facilities

ICRA has reaffirmed the long-term rating of ICRA A assigned to DLF's Rs 4,000 crore non-convertible debenture programme

Shares of DLF were up nearly 3% at Rs 132 after the company said that ICRA has removed the rating frmo 'rating watch with negative implications' and reaffirmed the rating (ICRA)A on the real estae major's bank facilities and NCD programme.

ICRA has reaffirmed the long-term rating of ICRA A assigned to Rs 4,000 crore non-convertible debenture programme, Rs 8,542 crore fund-based facilities and Rs 1,160 crore non-fund based facilities of DLF Ltd, the company said in a release adding that the long term rating has been assigned a negative outlook.

The stock opened at Rs 128 and touched a high of Rs 134. At 1:05PM, over 5.6 million shares were traded on the stock exchanges.