Stock market analysts are of the view that traders can buy DLF stock to achieve an intraday target of Rs 412.

According to them, investors can buy the stock above Rs 404 with a stop loss of Rs 396.

If stock market remains positive, the stock pricing may become more attractive, and reach above Rs 418.

Shares of the company, on Tuesday (June 09), closed at Rs 402.70, up Rs 36.85 from its previous closure of Rs 365.85 on the Bombay Stock Exchange (BSE).

Current EPS and P/E of the stock stood at 9.12 & 44.16 respectively. The share price has seen a 52-week high of Rs 576 and a low of Rs 124.15 on BSE.

The administration has given in-principle authorization to DLF to withdraw four of its IT, ITES, SEZ that it didn’t want to construct despite slowdown in the real estate business.

However, the board of approval (BoA) in the Commerce Ministry directed DLF to give back all the tax sops it had taken from the Centre before its special economic zones in Gujarat, West Bengal, Orissa and Haryana to be de-notified.

The sources said that BoA, led by commerce secretary G K Pillai, also permitted additional time to the K Raheja group to set up its tax-free zones in Goa, Hyderabad and Navi Mumbai.

DLF promoters, on May 13, sold approximately 10% stake in the company in order to raise Rs 38.60 billion for clearing its outstanding arrears.

The company, on May 15, has decided to raise about Rs 100 billion ($2 billion) by the next three years from asset sales as it aims to reduce its arrears.

In an analyst presentation earlier this month, the company stated that its net debt stood at Rs 139.58 billion at the end of March.

It has decided to pay back Rs 75 billion by selling non-core assets including its wind power unit and from part collection of the money owed to it by a property trust, DLF Assets.