This Rekha Jhunjhunwala-owned realty stock has zoomed 108% in five weeks

Shares of D B Realty were locked the in upper circuit of 5 per cent at Rs 91.55, which is also its 52-week high on the BSE.

Shares of D B Realty were locked in the upper circuit of 5 per cent at Rs 91.55, which is also its 52-week high on the BSE in Wednesday’s trade, ahead of its board meeting tomorrow to consider a fund raising plan. At 01:22 pm, a total of around 200,000 shares had changed hands and there were pending buy orders for 2.9 million shares on the NSE and BSE.

The stock of the real estate company has more-than-doubled (up 108 per cent) in the past five weeks from the level of Rs 44 on December 29, 2021. In comparison, the S&P BSE Sensex was up 3 per cent during the same period. The stock had hit an all-time high of Rs 540 on March 31, 2020. It touched a record low of Rs 3.61 on April 22, 2020.

Ace Investor Rakesh Jhunjhunwala’s wife Rekha Rakesh Jhunjhunwala held 5 million or 2.06 per cent stake in D B Realy as on December 31, 2021, the shareholding pattern data shows.

D B Realty on Monday, January 31, 2022 said that the board of directors of the company is scheduled on Thursday, February 3, 2022 to discuss and consider the proposal for raising of funds by way of private placement / preferential issue of convertible warrants/ equity shares / other equity linked securities.

On January 4, 2022, the board of directors of D B Realty had approved raising of funds through a issue of 130.5 million warrants convertible into equivalent number of equity shares of the face value of Rs 10 each to promoters /promoter group and non – promoter investor on a preferential basis. The company convened Extraordinary General Meeting ("EGM") today i.e. Wednesday, February 2, 2022.