Date:11/07/2008 URL: http://www.thehindu.com/2008/07/11/stories/2008071156421800.htm

Business - Briefly

DLF to buy back shares worth Rs. 1,100 cr.

NEW DELHI: Realty giant DLF on Thursday said it would buy back up to 2.2 crore shares from the market at a maximum price of Rs. 600 each, as the firm’s intrinsic value and future growth potential is not reflected in its current share price, which has dipped below the IPO price of Rs. 525. The company’s board has approved the buyback plan for purchasing shares worth up to Rs. 1,100 crore that would come through internal resources.