DB Realty takes a knock on 2G verdict

DB Realty had soared to a high of Rs 79.6 in early trades, up nearly 8.5% ahead of the bail plea hearing of the 2G accused, including Asif Balwa.

However, the 2G court dismissed the bail application of all the accused, including that of the DMK chief Karunanidhi's daughter Kanimozhi, Sharad Kumar, Rajeev Agarwal and Karim Morani.

The court charged, A Raja, Kanimozhi and Sharad Kumar of having receiving bribe. And, Sharad Kumar, Rajeev Agarwal, Karim Morani and Asif Balwa of giving bribe.

The Central Bureau of Investigation did not argue in the court against the rejection of the bail pleas.

The 2G trial has been scheduled to start on November 11.

Following, the announcement DB Realty plunged to a low of Rs 70.75, down over 11% from the day's high. The stock is now trading down 2.5% at Rs 71.50. The counter has seen heavy volumes of around 3.2 million shares on the BSE and the NSE.

Others like - Unitech has shed 1.5% at Rs 28.80. Reliance Communications is marginally up at Rs 82. Sun TV, however, continues to trade 5% higher at Rs 272.