DLF is trading higher by 5% to Rs 219, extending Wednesday’s 2% gains, on reports that the company will invest up to Rs 3,000 crore over the next five years to develop shopping malls.
The realty major will develop 3.5 million square feet to 4 million square feet of retail space as it expects heightened activity, with the government approving 51% foreign direct investment in multi-brand retail and 100% in single brand, a report suggests.
The stock opened at Rs 215 and hit a high of Rs 220 on the National Stock Exchange (NSE). A combined 6.6 million shares have changed hands on the counter so far on the NSE and the BSE.