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Never-ending Problems and Permanent Lessons

For Indian equity investors, it may be time to write-off real-estate stocks permanently...

Over the last few days, DLF has been in the news again. Unlike the last round of DLF-related headlines, this time there was some elements that stuck some observers as positive. The company sold off a resort property, a deal which would shave off some Rs 1,600 crore from its total debt of Rs 21,000 crore. By itself, there was nothing remarkable about the news. DLF has been trying to sell-off non-core assets for a while, or perhaps it labels as non-core whatever it can sell. In any case it has had some success in encashing some of its holdings, something that should have some effect on the mountain of debt that it is pressed under.

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