DB Realty has gained around 11% at Rs 77.75 in BSE extending yesterday's gains as investors' interest in the stock remained upbeat on positive cues generated by the Bombay High court orders related to three large projects being developed by companies in which DB Realty either has either controlling or significant stakes.
The projects, located in prime areas of Mumbai include Mahalaxmi Race Course residential project being developed by Turf Estate in which DB Realty holds controlling stake, hotel project at Marine Lines being developed by Marine Drive Hospitality & Realty and development of a parcel of land at Bandra Reclamation area by company's wholly owned subsidiary Goregaon Hotel and Realty in 50% partnership with Om Metals consortium.
The stock opened at Rs 77.55 and has hit a high of Rs 85.10 while around 31 lac shares have changed hands on BSE and NSE combined till 10:20 hrs.
