DLF Ltd, India's largest real estate developer, has reported a consolidated net profit of Rs 372 crore in the second quarter of FY12, a fall of 11% as compared to Rs 418.4 crore in the corresponding quarter of last fiscal., due to slowing sales, high interest rates and rising costs.
Consolidated net sales of the company increased 6.9% to Rs 2,532 crore versus Rs 2,369 crore during the same period.
The stock has been an outperformer in the past 3 months and have been moving in an upward trending channel (as shown below). The upmove was confirmed after it crossed the strong resistance area of 210. Considering the fact that interest rate cycle in India has topped out, the stock can perform well in coming months.
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