India's DB Realty hits upper circuit after unit, co executes settlement agreements

Valor Estate

12/01/2023 04:49

** Shares of DB Realty Ltd  DBRL.NS  rise as much as 5% to
hit upper circuit at 89.25 rupees
    ** The real estate development co said late Wednesday that
co and its wholly owned subsidiary have executed settlement
agreements with Reliance Commercial Finance Ltd on Jan 10 for
the loans given  urn:newsml:reuters.com:*:nFWN33V40C
    ** Co will pay 1.86 bln rupees ($22.79 mln) and unit will
pay 2.14 bln rupees to the lender
    ** Stock still under its 50- and 100-day simple moving avg
prices
    ** Stock saw its biggest intraday pct gain since Sept 14,
2021
    ** Stock up ~101% in 2022
     ($1 = 81.6325 Indian rupees)
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))