DB Realty hits a new low
By
Research Desk
about 11 years ago
DB Realty has hit a new 52-week low today at Rs.56.45 and though it has recovered from this level, it remains in the red at Rs.57.10, down over 2.5%.
The stock has slumped after the company issued a statement saying that its promoter company, Neelkamal Tower Construction has pledged 2.6 crore shares to HDFC on 19th March. This was pledged against the financial facility extended by HDFC to a wholly owned subsidiary of the company.
As at 31st Dec 2012, the promoter company, Neelkamal Tower had 42.99% stake in the company while the total promoter stake was at 61.18%.