DLF scrip rises, but investors poorer by over 6,000 crore

Mumbai/ New Delhi: DLF shares rose 2% on Thursday, halting the sliding trend which eroded Rs 6,200 crore of investor wealth after the recent controversy over alleged land deals involving the country's largest real estate firm.      The company's shares climbed Rs 4 or a little over 2% to Rs 205.3 on the Bombay Stock Exchange, reversing the falling trend. In eight trading sessions after Arvind Kejriwal's allegations of land deals with Robert Vadra, Congress president Sonia Gandhi's son-in-law, the share had tanked 17% and hit a low of Rs 201 on Wednesday. DLF had denied the charges saying the transactions were normal business deals.      Following Kejriwal's allegations at a press conference earlier this month, investment bank Goldman Sachs had downgraded the stock to neutral from buy, saying slower approvals could result in fewer project launches, while cutting its pre-sale estimates for India's largest property developer. After the stock fell, UBS had, however, said the concerns had been priced in, while retaining the "buy" tag.      The government has so far refrained from taking any steps with ministers,including finance minister P Chidambaram, saying the transactions were between two private entities and the information was in public domain.  Telecom stocks dip on refarming  Mumbai:Telecom stocks dropped after the Telecom Commission on Wednesday recommended that all spectrum given to operators in the 900-MHz band should be refarmed. The sensex gained 181 points to 18,792. AGENCIES