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This is an archive article published on March 2, 2012

DLF shares extend downfall; slip 6%

Concerns of flagging financial health has hit the company's shares.

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Shares of realty major DLF plunged by nearly six per cent this morning,extending its sharp decline in the previous trading session on reports flagging concerns about the company’s financial health.

Even as the company debunked the reports,terming them as ‘presumptive and mischievous”,the shares were diown 5.9 per cent at Rs 202 at the BSE this morning. It was the biggest loser among the Sensex stocks in an almost flat market.

At the NSE also,the stock plummeted by 5.62 per cent to Rs 202.

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The stock had dropped over 5 per cent yesterday as well.

Amid reports about an analyst report raising concerns over the company’s financial health,DLF last night said that the reports appeared “presumptive and mischievous as the analysts have never contacted the company to seek any information or clarification”.

DLF had further said that it adheres to the highest standards of corporate governance and financial integrity.

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