Jan 9: DB Realty Ltd (BSE: 533160, NSE: DBREALTY) has hit 52-week high of 82.35 continuing the bullish trend from the beginning of the month following the promoters increasing their shares in the company through open purchase and favourable verdict on 2G Scam case for two of its directors Vinod Goenka and Shahid Bawa from CBI special court.
Vinod Goenka HUF, promoter of DB Realty had bought 36,500 equity shares through open market purchase towards the end of December.
DB Realty was established in 2007 and has become a leading real estate player with portfolio consisting of over 100 mn sq ft of prime property and known for its luxury properties in Mumbai. In September quarter, the company reported a net loss of Rs 12.40 cr while sales was Rs 2.44 cr. In 2016-27, the company earned a total income of Rs 138.80 cr and net profit of Rs 1.42 cr.
The company prospects are viewed positive drawing on the strength of its current and ongoing projects.
On technical charts, RSI of 88.60 denotes bullish, oversold position, MACD has witnessed a bullish crossover signalling a buy and ADX of 64.82 indicates uptrend.