DLF is a stock that has broken a 10-year high. The last time the stock traded at this level was in 2011 and after that, there was a big crunching bear market. Now, the real estate market is recovering. It is up 8 percent today and this month it’s up about 15 percent and from its lows, it’s up about 133 percent.
The market cap of India’s entire real estate sector right now is less than 50 percent of what DLF was in 2008-2009; of course since then a lot of companies improved their balance sheet. So that’s why there is a move and the latest trigger is today’s news that they have managed to sell another property in just one day.
So the demand is there and that explains the move.
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