India's D B Realty up on promise of being debt-free

Valor Estate

28/11/2023 06:33

** Shares of D B Realty  DBRL.NS  rise as much as 3.4% to
211.40 rupees
    ** Real estate developer said the promoter group has sold
2.91% stake of co which led to 3.01 bln rupees ($36.10 mln)
being raised
    ** Added, co used substantial portion of the amount to
retire its entire debt, and on a standalone basis shall be debt
free on or before Nov. 30    
    ** Stock last up 1.8%, bumping YTD gains to 122.2%



($1 = 83.3800 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))