shares of DB Realty Limited Upper circuit level on BSE rose over 5% in Tuesday’s trading session 111 in a weak market with the benchmark Sensex falling over 500 points. The stock continues to rise, hitting upper circuit levels after the Mumbai-based realty firm announced plans to increase 563 crore by issuing warrants to promoters and investors.
Just one day after the announcement of investment proposals 400 crore and to acquire around 10% stake in DB Realty and set up a joint redevelopment platform, Godrej Properties Ltd (GPL) on Friday said it has decided to invest equity capital in DB Realty after long discussions and deliberations. Have decided not to move forward together. Feedback from stakeholders and minority investors.
Multibagger stock has gained over 77% in one month while it has gained over 364% in the last six months. from trading over 18 per share in February 2021, the realty stock has skyrocketed over 489% in a one-year period. So far in 2022, DB Realty shares are up over 126% (year-to-date or YTD).
Sumeet Bagdia of Choice Broking advises that investors should avoid fresh buy on the stock for now as it has been moving in the counter circuit-to-circuit in the recent sessions.
As per the recent shareholding pattern of BSE, Rakesh Jhunjhunwala’s wife Rekha Jhunjhunwala holds 2.06% stake in DB Realty as of December 2021.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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