DB Realty has surged over 6% to Rs 164, its highest level since January 2011, on back of heavy volumes. As many as a combined 6.9 million shares have already changed hands on the counter so far against an average 2.5 million shares that were traded daily in past two weeks.
The stock of Mumbai-based real estate firm has rallied 44% in past one month after the company said its subsidiary DB Hospitality (DBHPL) in which the company is holding stake, proposes to develop a plot as the Delhi International Airport's new hospitality district through one of its subsidiary SPV.
“In order to develop the said project, DBHPL has been exploring various options of missing funds including dilution of stake in the said SPV and for the purpose talks have been going on with various parties and the same shall be intimated as and when the deal is finalized,” DB Realty said.
The stock is one of the best performer in current calendar year has rallied 230% so far in 2012 compare to 55% rise in realty index. The BSE benchmark Sensex has gain 26% during the same period.
