DLF goes down 6 % on BSE after CCI slapped Rs. 600 crore as Penalty
DLF Delhi Land & Finance (DLF) this Tuesday dropped till 6 percent on the bourses after the rivalries Supervisory body CCI found out that the reality giant is guilty abusing its dominance in market position and strike the penalty of Rs. 600 crore approx.
The corporation’s shares which got opened on a good note which fell below 6.91 % intraday before settling the 5.92% down at Rs. 189, on BSE as shareholders acted in response to the news.
The NSE (National Stock Exchange) the script went to Rs. 187.10 per share, which was 6.54% lower than its last close. From 6.59% it fell to Rs. 187 per share in the day time.
The volume front with over one crore shares of the corporations directed itself on two of bourses at the day time. Analysts credited the downfall to the investor’s hard reactions to the news bulletin on the penalty to the company.
Rivalries Supervisory body CCI recently slapped a penalty with around Rs. 600 crore against the giant DLF Ltd. for criticizing the dominance of its market position. The penalty price which goes to 7% of the organization’s average per year turnover for the least three years was fined as DLF is proved guilty for the violation of 4(2) of the rivalries Act in 2002.
Any company which violates the Section 4(2) (a) of the rivalries Act when the company directly or indirectly makes discriminatory or unfair prices or conditions with on the purchases or sales of the goods or any services.
In the meantime the BSE yardstick index Sensex halted at 108.69 points lowered at 16,730.94.