Investors lose Rs 7,300 crore as DLF stock nosedives 29%

MUMBAI: The share price of DLF, the Delhi-based real estate major, crashed about 28.5% to Rs 105 o

The crash in DLF stock also wiped off about Rs 7,300 crore of investors’ wealth with its market cap now at Rs 18,702 crore, down from Rs 26,141 crore as of Monday’s close, before the Sebi ban was made publicn Tuesday on BSE, its all-time low level, after market regulator Sebi banned the firm and some of its promoters from the market for three years. 

The crash in DLF stock also wiped off about Rs 7,300 crore of investors' wealth with its market cap now at Rs 18,702 crore, down from Rs 26,141 crore as of Monday's close, before the Sebi ban was made public. 

On Tuesday several brokerages also sent out cautionary notes to investors or downgraded the stock as analysts feel the order will severely hinder the firm's ability to raise funds, either through equity or debt. 

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