If you have to believe Canada-based independent equity research firm Veritas, DLF stock is only worth Rs.100. The stock trades at Rs.214.65 in BSE as on Thursday.
Veritas Investment Research has said this in its equity research report titled 'A Crumbling Edifice' and also has raised doubts about the company's disclosed book equity and asset base.
The research report, authored by Research Head Neeraj Monga and Analyst Nitin Mangal at Veritas, says,"DLF has undertaken questionable related-party transactions to boost the value of DAL (DLF Assets) prior to its acquisition by DLF, thereby subverting the interests of minority shareholders via a higher purchase price for DAL."
Read the entire detailed news article on Economic Times here.
Check another old warning about real estate sector stocks I discussed in 2010 here: Realty Stocks, Debt And Investors
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