India's D B Realty hits 3-month low; CBI searches unit's premises

Valor Estate

02/05/2022 09:07

** Shares of real estate development co  DBRL.NS  fall as
much as 5% to 84.3 rupees, their lowest since Feb 1
    ** DBRL marks biggest intraday pct loss since April 8; set
for third straight session of losses 
    ** Co says https://bit.ly/3MHLHvD the Central Bureau of
Investigation (CBI) has carried out searches on the premises of
its unit Neelkamal Realtors Tower Pvt Ltd
    ** DBRL says it understood that CBI is investigating
financial transactions of the unit with DHFL and Indo Global
Soft Solutions & Technologies Pvt Ltd 
    ** More than 427,600 shares traded by 0803 GMT, 1.3 times
their 30-day avg of over 336,900 shares
    ** Up to last close, stock had climbed 90.3% this year; it
surged 227% in 2021
     

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))