NBR Developers
Citiescities-arrow
  • more-arrow-down
    • Please wait while loading other cities loading...

Bearish bets on DLF futures rise as traders see another 10 Percentage fall in stock

  • No. 1 Property Portal in India
  • Over 25 Lakhs Apartments and More
  • Post Free Residential Properties in India
  • Find Property in Bangalore
  • Buy/Sell/Rent Apartments in India
  • Search Latest Residential Property in India
  • Get Free Alerts on Property Requirements
  • Find Agents/Buyers for your Property
mobile-ad
Traders are mounting their bearish bets on DLFBSE 1.02 % stock futures on Wednesday as the controversy over the real estate major's dealings with Robert Vadra, a businessman and son-in-law of Congress party president Sonia Gandhi, grew murkier. This is because analysts are expecting the stock, which has declined over 20% in the past 10 days, to decline another 10% or up to Rs 180 in the near term.
DLF shares on BSE fell 3.4% to Rs 201 on Tuesday, the lowest close in over a monh after the transfer of a bureaucrat, who had launched a probe into the land dealings, raised suspicions over the land deals between the company and Vadra.
DLF stock futures in the October series ended 3.4% down at Rs 201.55 on NSE, while open interest climbed 4% to Rs 2.36 crore units. Open interest, which is the number of total open positions in the contract, has increased by 11% in the past three sessions. The futures price has fallen by 7%, while the premium of the futures over the spot has contracted to 0.45 points from 1 point earlier, indicating large buildup of short positions.
"Traders seem to have lost hope in DLF's stock price over the near term. Since September, DLF had risen from 200 levels to a high of Rs 245 on October 5... however, all these gains have been erased and there could be further downside," said Amit Gupta, head - derivatives at ICICIBSE -0.04 % direct.
Activist Arvind Kejriwal had claimed that DLF received favourable land deals from the Congress-led government in Haryana and sold flats in its schemes to Vadra at throwaway prices as an alleged quid pro quo. DLF has denied the allegations.
Open interest in DLF put options at strike prices Rs 180-200 nearly doubled in Wednesday's session as a majority of traders expected the stock to test new lows in the next few sessions.
Analysts said that as the overhang from the corruption allegation continues to afflict the stock, the lack of strong buying could keep DLF weak over the next few sessions. The 220 price level was a crucial support level on the charts, which the stock has breached.
"After the 220 level was broken, we feel that the stock can take support only at 180-190 levels. Strong buying in the stock could emerge when the stock comes down to these levels," said Shubham Agarwal, AVP and senior technical equities analyst at Motilal Oswal Securities.
Source: Economic Times

Property Listings

Apartments, Flats and Property for Sale in Mumbai

Sep 21, 2016
2 BHK APARTMENT FOR SALE AT KHARGHAR – Navi Mumbai. # Location : Kharghar , Navi Mumbai. # Sector : 20 # Area : 1055 sq ft # Cost :..
Sep 14, 2016
For Sale – Spacious 1 BHK Flats in Prime Location of Borivali East Project : Triveni, a project by Atul Corporates. Structure comprises of..
Sep 08, 2016
3 BHK FLAT FOR SALE AT KHARGHAR – Navi Mumbai. # Location : Kharghar, Navi Mumbai. # Area : 1375 sq ft # Cost : 1,25,00,000 # Parking..
Aug 28, 2016
3 BHK FLAT FOR SALE AT KHARGHAR – Navi Mumbai. # Location : Kharghar, Navi Mumbai. # Area : 1375 sq ft # Cost : 1,25,00,000 #..
Aug 27, 2016
For Sale – Luxurious 3 & 4 BHK Flats in Prominent Location of Matunga East Mody Kunj in Matunga East, near Kings Circle is a..
Aug 17, 2016
# Location : Kharghar , Navi Mumbai. # Area : 1000 sq ft # Cost : 8500000 # Parking : 1 Covered # Bed : 2 Bedroom # Balcony : 2 balcony #..
Jul 25, 2016
Primo is one of the residential developments of Ceear Realty, located in Mumbai. The project is designed by Architect Hafeez Contractor. It offers..
Apr 06, 2016
This 1 bhk flat is a specious flat with all modern amenities like gym, Swimming pool, Children play area etc.This flat has a west facing and a..
spacer

Apartments, Flats and Property for Rent in Mumbai

Sep 02, 2016
2 BHK SPACIOUS FLAT FOR RENT AT KHARGHAR – NAVI MUMBAI. # Location : Kharghar. # Sector : 18, (near to central park, golf course and ..
Aug 12, 2016
# Location : Kharghar , sector - 3 # Sector : 3 # Area : 635 sq ft # Rent : 10000 # Deposit : 40,000 # Parking : open # Balcony : balcony #..
Aug 11, 2016
# Location : Kharghar , sector - 3 # Sector : 3 # Area : 835 sq ft # Rent : 13000 # Deposit : 50,000 # Parking : open # Balcony : balcony #..
Jun 23, 2016
1 BHK flat for rent at kharghar Location : sector - 12 Area - 559.00 Rent - 15000 Station, mall, colleges at reachable..
Jun 21, 2016
Amazing flat at kharghar for sale..
Jun 04, 2016
A spacious and unfurnished 1 bhk apartment for rental in mayuresh residency situated opp. Asian paints, Lbs marg, Bhandup west. This flat is..
Dec 09, 2015
Fully Furnished Condo in Royal Palms, Goregaon East. Area : 344 sq.ft., Rent : Rs.11000/-, Deposit : Rs.30000/-, Flat is on 3rd floor out of 7..
Oct 15, 2015
Unfurnished Property Description Elegantly unfurnished 1 bhk apartment in luxurious and excellent apartment makes a definitive statement in..
spacer
spacer
spacer
spacer
spacer