India's D B Realty hits 14-year high on hospitality business demerger

Valor Estate

09/02/2024 09:49

** Shares of D B Realty  DBRL.NS  rise as much as 6.6% to
284.80 rupees, their highest since Nov. 2010
    ** Real estate developer approved demerger of its
hospitality business
    ** Adds, shareholders of DBRL will hold a substantial stake
in the resulting company, which is proposed to be listed on
stock exchanges
    ** Stock was up 2.3% ahead of the news
    ** DBRL last up 3.7%, on track to snap a two-day losing
streak
    ** Stock jumped 98% in 2023, marking its fourth straight
year of gain

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))