DB Realty at 52-week high, stock soars 75% in two months

DB Realty has rallied 9% to Rs 124, its highest level since February 2011, after the Mumbai-based real estate developer said that the company expects an uptake in the next six months.

The trading volumes on the counter almost doubled with a combined 3.08 million shares have already changed hands so far against an average 1.7 million shares that were traded daily in past two weeks.

The stock has rallied 75% in past two months on the Bombay Stock Exchange compared to 4% gain in benchmark Sensex and 22% rise in realty sector index during the period.

The company’s portfolio consists of 95 million square feet of prime property across 36 projects, most of them in and around Mumbai.

The realty firm expects its two projects in Mumbai — DB Woods at Goregaon and Orchid Suburbia at Kandivali — to be completed by next March. “All other projects are also on schedule and committed timelines remain unchanged,” DB Realty said in a filing.