Realty major DLF has deposited Rs 50 crore with the Supreme Court and will pay the balance by November 25 to comply with its direction to deposit Rs 630 crore fine slapped by fair trade regulator CCI.

In August, the Supreme Court had said that the total amount should be deposited within 3 months with its Registry, pending the outcome of the appeal filed by the DLF against the May 19 order of Competition Appellate Tribunal's upholding the penalty imposed by CCI.

Benchmark indices are likely to open on a volatile note amid the decline in select Asian markets which came under pressure on weak macro-data from China. Meanwhile, further decline in crude prices below the level of $80 a barrel will keep oil and gas shares in focus.

Earlier, the government on Thursday raised excise duty on petrol and diesel by Rs 1.50 a litre each to help it achieve the fiscal deficit target for this year.

The country's largest real estate player, DLF, has posted a nine per cent jump in its consolidated net profit at Rs 109 crore for the quarter ended September on the back of higher sales.

It had reported a net profit of Rs 100 crore in the same quarter the previous year.

DLF, the land and property development major, is due to release its second quarter (Q2) results this Thursday. It is likely to be a stormy occasion, with last month's action against the company by the Securities and Exchange Board of India (Sebi).

Since the order that banned DLF and its chairman, K P Singh, from accessing the capital markets for three years, the company has struggled. It traded at about Rs 150 a share a little before the Sebi order. This dropped to a low of Rs 100 a couple of sessions after and has since recovered to about Rs 135.

The Securities Appellate Tribunal (SAT) on Tuesday admitted the plea of DLF promoters against the Securities and Exchange Board of India (Sebi) order that had barred the real estate major and six other entities from accessing capital markets.

DLF promoters including KP Singh, his children – Pia Singh and Rajiv Singh and two other key management personnel - DLF Managing Director T C Goyal and former MD Ramesh Sanka had approached SAT earlier this month for relief against the Sebi order.

Shares of DLF on Friday rose over six per cent, adding Rs 1,407 crore to its market valuation, after the Securities Appellate Tribunal (SAT) allowed the realty giant to redeem mutual funds (MFs) worth Rs 1,806 crore to meet working capital needs and service debt payments.

After surging 6.59 per cent to Rs 135 in intra-day trade, shares of DLF finally ended at Rs 134.55, up 6.24 per cent at the BSE.

DLF is trading 4% higher at Rs 132 on BSE, in otherwise subdued market, after the Securities Appellant Tribunal (SAT), in an interim relief, allowed real estate giant to redeem its mutual fund investments of Rs 1,806 crore to service its debt.

After hearing an appeal for interim relief by DLF, the Tribunal allowed the company to redeem mutual funds worth Rs 767 crore in the current month and further funds worth Rs 1,039 crore in December, the PTI report suggests.

The Securities Appellate Tribunal on Thursday asked DLF to file an affidavit by November 3, explaining why it wants to redeem investments in mutual funds and how much money it is planning to draw.

The real estate giant has investments worth Rs 2,500 crore in mutual funds. It has appealed to the Securities Appellate Tribunal (SAT) against a order of Securities and Exchange Board of India (Sebi) banning it from accessing the capital market for three years.

Markets edged higher after the first hour of trade led by IT exporters after the US Federal Reserve Bank at its two-day meet which ended Wednesday remained confident that the economy is on a growth track

At 10:35AM, the 30-share Sensex was up 57 points at 27,155 and the 50-share Nifty was up 21 points at 8,111.

Shares of DLF slumped nearly 6% to Rs 112 on reports that the new Haryana government will investigate into the land deals between the company and Congress president's son-in-law, Robert Vadra entered into during the regime of the previous Congress government.

It may be recalled that the Bharatiya Janata Party garnered a majority in the recently held state elections and Shri Manohar Lal Khattar took oath as Haryana Chief Minister on Sunday.

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