DLF shares plunged on Wednesday after the Supreme Court (SC) upheld Rs 6.3 billion penalty imposed by Competition Commission of India (CCI) for abusing its dominant market position with regard to a residential society in the Gurgaon.
SC has directed DLF to pay the penalty amount within 3 months. Of the total penalty, the company will pay Rs 500 million with 3 weeks and to submit undertaking of interest of 9% on total amount.
Shares of the company are trading at Rs 183.65, down Rs 7.9, or 4.12% at the Bombay Stock Exchange (BSE) on Wednesday at 3:28 p.m.
The scrip has touched an intra-day high of Rs 193.85 and low of Rs 181.35. The total volume of shares traded at the BSE is 1,466,816.