DLF approves Buy-back of equity shares at Rs 600

DLF Ltd has announced that the Board of Directors of the Company at its meeting held on July 10, 2008, inter alia, has approved the proposal for Buy-back of equity shares of the Company under first provision to clause (b) of sub-section (2) of section 77A of the Companies Act, 1956 subject to the exemption by SEBI under the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 1997.

The Total consideration amount for Buy-back wil not be exceeding Rs 1100 crs.The Total number of shares for Buy-back will not be exceeding 2.2 Crs.The Buy-back price per equity share will not be exceeding Rs 600/-.The stock was trading at Rs.456.75, up by Rs.6.45 or 1.43%. The stock hit an intraday high of Rs.475 and low of Rs.442.The total traded quantity was 2643538 compared to 2 week average of 2100718.