Top India Developer Slumps on Report of Supreme Court Probe
- Company’s shares plunge the most since November, 2016
- DLF denies allegations that it failed to make full disclosure
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Shares of DLF Ltd. plunged the most in almost three years after a newspaper reported that India’s top court is looking into whether the developer suppressed information about legal battles involving its biggest assets.
The stock dropped 15.8% to 144.45 rupees in Mumbai on Thursday. Its fall dragged down the S&P BSE Realty Index to its worst performance among 19 sector sub-indexes compiled by the BSE Ltd.