Mumbai: Shares of DLF surged over 6 percent, adding Rs 1,524.36 crore to its market value, after the Securities Appellate Tribunal Friday passed a 'majority order' quashing the three-year market ban imposed on the realty giant by regulator SEBI.
The stock soared 5.74 percent to settle at Rs 157.50 on the BSE. During the day, it surged 9.16 percent to Rs 162.60.
On the NSE, shares of DLF jumped 6.19 percent to end at Rs 158.70.
In the process, the company's market value rose by Rs 1,524.36 crore to Rs 28,065.36 crore.
In terms of volume, 39.94 lakh shares of the company changed hands at the BSE and over two crore shares were traded at the NSE during the day.
In a major relief for DLF, the Securities Appellate Tribunal today passed a 'majority order' quashing the three-year market ban imposed on the realty giant by regulator SEBI, even as the Presiding Officer dissented.
SEBI's orders imposing similar ban on DLF's six top officials, including Chairman K P Singh and his children Rajiv Singh and Pia Singh, were also set aside by the same majority order, passed by two members of the SAT.
The SAT Presiding Officer, J P Devadhar, however passed a separate 'minority' order, wherein he proposed reducing the ban from three years to six months.
In its order dated October 10, 2014, SEBI had barred DLF and six others from the capital markets for three years, alleging "active and deliberate suppression of material facts" during its over Rs 9,000-crore IPO more than seven years ago.
