India's DB Realty up 4% on disinvestment plans

Valor Estate

30/05/2023 07:22

** Shares of D B Realty Ltd  DBRL.NS  rise as much as 4.26%
to a three-week high of 89.40 rupees
    ** Rise after the real estate developer executes securities
purchase agreement for proposed disinvestment in Prestige (BKC)
Realtors Pvt Ltd and Turf Estate Joint Venture LLP
    ** DBRL to get 9.79 bln rupees ($118.3 mln) from sale of
shares in Prestige BKC Realtors
    ** Divestment of stake in Turf Estate to get DBRL 1.98 bln
rupees
    ** Co to report its March quarter earnings on Tuesday
    ** Trading volume is 1.33 mln shares as of 11:37 a.m. IST,
more than twice the 30-day avg - Refinitiv data
    

    

($1 = 82.7800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))