Plans to list arm give a boost to DLF

DALAL STREET SPIKES

DLF gained 9 per cent from its previous day's Rs 655.80 to close at Rs 713.25, after touching a 52-week high of Rs 719.90. The volumes were strong at 3.6 million shares. The company promoters announced plans to list its arm, DLF Assets, located in Singapore ,in order to raise around $2 billion. DLF Assets has plans to set up a real estate investment trust (REIT) using the funds. DLF had sold some of its leased commercial space to DLF Assets.