DLF prices plunge by 25 pc over Sebi action

October 14, 2014 10:58

Share price of realty giant DLF today tanked by nearly 25 per cent -- probably its biggest one-day fall -- on the back of Sebi imposing a three-year ban on the company and its top executives from securities markets.

The stock fell by 24.5 per cent to its 52-week low level of Rs 111.25 in opening trade at the BSE. Its shares were trading 22 per cent down at Rs 114 at 10.30 am after recouping some earlier losses with huge trading volumes.

In a major blow to DLF, Sebi has barred the realty major as well as its six top executives, including chairman and main promoter K P Singh, from the securities market for 3 years for "active and deliberate suppression" of material information at the time of its IPO.

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