In its latest research report, Nirmal Bang, an equity research firm, said that DLF, which presently stuck in a band of 235-240, can give good returns within 4-5 trading sessions.

The report further stated that, if the counter is successful to breach 242, then it will create a huge breakout.

Nirmal Bang Research has advised investors to hold the stock to achieve a target price that lies between Rs 255-270.

Furthermore, the firm has suggested a support level for the scrip at Rs 220.

Shares of the company, on Tuesday (May 11), closed at Rs 236.25 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 656.70 and a low of Rs 124.15 on BSE. Current EPS and P/E of the stock stood at 9.12 & 26.32 respectively.

The members of the promoter group of the company sold 168 million shares of DLF to the institutional players at Rs 230 per share aggregating Rs 3860 crore.

The company has decided to infuse capital in DLF Assets (P) to earn lease rentals.

In a declaration, DLF said, "The capital infused into DAL would be used by it to pay to DLF towards its contractual obligations."

"The promoters may also use part of the net proceeds towards the purchase of D E Shaw's interest in DAL," it said.

D E Shaw is a US based hedge fund having stake in DAL.

The transaction saw a strong response with strong demand from the majority of the large existing institutional shareholders in addition to several high quality new accounts using this opportunity to become core shareholders.

It is discovered that DLF is on the brink of selling off 50% of its soon-to-be-opened 120-room hotel at Saket, New Delhi, for approximately Rs 750 million to a rich person, who is not involved with any hotel chain.

Less than a month ago, DLF sold another 60-room property, situated beside its mall at Saket, for around Rs 550 million.

On May 04, DLF declared that it has decided to seal the buy-back offer from the open market purchases via bourses with effect from May 06, 2009, subject to completion of all statutory and regulatory requirements.