Real estate giant DLF on Friday pipped Bharti Airtel to become the country's second most valued private sector company after Reliance Industries, following a surge of over 5% in its share price.
In an overall flat market, shares of DLF rose by 5.31% at the BSE to close at Rs 1,063.70 -- more than double its IPO price in less than six months of listing.
The company's market capitalisation surged to Rs 1,81,343 crore at the end of Friday's trading, marking a gain of about Rs 9,150 crore over the previous day. This is second highest among private sector companies after country's most valued firm RIL, which has a market cap of over Rs 4,21,000 crore.
This is estimated to have swelled DLF chairman K P Singh's wealth to more than $40 billion. Last month, Singh was named as world's richest realtor with a wealth of $35 billion by Forbes magazine. Forbes had calculated Singh's wealth on the basis of DLF share price on November 2.
Press Trust of India PTI
