DLF is trading higher by 2% at Rs 276 on the National Stock Exchange in an otherwise subdued market.
The stock opened at Rs 272 and hit a high of Rs 277, it highest level since January 2011. A combined 3.84 million shares have changed hands on the counter till 1045 hours on both the exchanges.
The stock of Delhi-based real estate developer has outperformed the market, by gaining 20% so far in current month compared to 2.4% rise in benchmark Nifty. The sector index CNX Realty has gained 3.3% during the same period.
According to the Business Standard report, DLF, the country’s largest real estate company, is aiming at a significant pickup in launches during 2013-14.
The company said it will bring down its net debt to Rs 18,000 crore by the end of March, from Rs 23,220 crore as of September 30, 2012 and is looking at cutting the same to Rs 15,000 crore in another year or so, added report.
Meanwhile, last week, Goldman Sachs upgraded its rating for DLF to "buy" from "neutral", citing upcoming residential project launches worth Rs 13,000 crore over the next three quarters.