Equity Alert: DLF may rise as co to mull share buyback today

[K.Karthik Raja]

Equity Alert: DLF may rise as co to mull share buyback today
..............................................................................
Equity Alert: DLF may rise as co to mull share buyback today
MUMBAI--9:40AM--Shares of DLF could seen some upside as the
company will
mull a share buyback proposal today, dealers said. But weak broad
market trend
could limit gains, they said.
The market is hoping for a buyback price of over 500 rupees per
share,
dealers said.
However, analysts do not see the buyback plan adding any value to
the
company, and believe it would divert funds that could have been used
for
investing in projects in the backdrop of tightening liquidity.
For the stock, 440 rupees is a crucial level, it could see a good
bounce if
it sustains above it, or below 440, the stock could fall to 415-412
rupees, and
then 400 rupees
Wednesday, DLF shares ended up 5% at 450 rupees.