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DLF says IL&FS default crisis, India credit market turmoil will help its home sales; here’s how
Posted on 2nd November 2018
The turmoil in India’s credit markets, brought on by defaults at a major infrastructure financier, will benefit the nation’s largest developer, allowing it to sell homes while peers struggle to get money to finish their projects.

Gurugram-based DLF has adequate liquidity and access to capital to meet all of its obligations on time. It believes that it is well placed to grab opportunities, the company said Thursday at the release of its second-quarter results A unit of DLF and Hines have agreed to jointly develop a commercial project in Gurugram, near New Delhi. The 51:49 partnership will result in more than 2.5 million square feet of commercial space.

The transaction is expected to be closed in the current quarter, DLF said Thursday Hines is a U.S.-based privately owned global real estate investment, development and management firm with $116.4 billion of assets under management Net consolidated profit at DLF more than doubled to 3.8 billion rupees ($51.7 million) in the quarter ended September 30.

Related Companies: DLF Ltd   

Other Latest News
Sensex, Nifty end higher for 2nd session on strong fund inflow, firm rupee
Posted on 17th November 2018
The BSE Sensex on Friday continued its rising streak for the second day to end at near a four-week high of 35,436.33, fuelled by gains in Reliance Industries, Bharti Airtel and other bluechips amid continued foreign fund inflows and strengthening rupee.

A higher opening in European shares too influenced sentiments here.


India set to buy Seahawk helicopters from US for $2 billion
Posted on 17th November 2018
Washington: India has sought from the US 24 multi-role MH-60 ‘Romeo’ anti-submarine helicopters for its Navy at an estimated cost of $2 billion, according to defence industry sources.

The deal is likely to be finalised in a few months.


Relief for Hyundai: Supreme Court stays Rs 420-crore fine
Posted on 17th November 2018
The Supreme Court on Friday stayed the Competition Commission of India’s order that imposed over Rs 420-crore penalty on the country’s second-largest car maker Hyundai Motors India for anti-trade practices including lack of standardisation of spare parts and allowing original equipment suppliers (OESs) to sell spare parts in the open market without any restrictions.

Analyst Corner: Retain ‘buy’ on Ashok Leyland, target price Rs 135
Posted on 17th November 2018
The EBITDA margin at 10.6% for Q2FY19 missed our/consensus estimates by 60 bps on lower realizations and higher commodity costs. The bigger surprise was resignation of Vinod Dasari with effect from March 31, 2019. Dheeraj Hinduja will take over as the executive Chairman till the Board finds a suitable replacement.We expect FY20 earnings to benefit from a confluence of factors (higher volumes, lower discounts, higher operating leverage) on BS6 pre-buy.

GVK Power gets approval to raise Rs 8,000 crore for debt repayment
Posted on 17th November 2018
GVK Power and Infrastructure (GVKPIL) has received the shareholders’ approval to raise up to Rs 8,000 crore.

The resolution to raise the funds, by a combination of various options listed on the agenda of the annual general meeting (AGM) held recently, has been passed by the requisite majority, the company said in a BSE filing on Friday.


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