Comments
Ignoring a bearish broader market trend, the shares of DB Realty on Tuesday surged higher on the bourses as the company promoter Shahid Usman Balwa was granted bail by a Delhi court.
The DB Realty stock jumped 8.60 per cent to settle at Rs 77 on the BSE. The stock had risen by as much as 14.24 per cent during the intra-day trade to touch a high of Rs 81, but pared some of the earlier gains.
At the National Stock Exchange, the scrip ended 5.63 per cent higher at Rs 75.10 after touching an intra-day high of Rs 81.
The sharp rally in the DB Realty stock was in sharp contrast to a bearish trend in the market, where the benchmark Sensex ended 158.79 points down at 16,008.34 points.
Balwa is facing trial in the case related to alleged irregularities in the allocation of second-generation telecom spectrum licence by the government. He was arrested on February 8.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.