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Shares of DB Realty surged by nearly 19 per cent in morning trade on the Bombay Stock Exchange today after falling to an all-time low in the previous session.
The scrip advanced by 19.96 per cent to touch a high of Rs 100.05 in early trade on the BSE. It had opened at Rs 83.10.
Similarly, the counter shot up by 20.04 per cent to Rs 100.30 on the National Stock Exchange. It was later quoted at Rs 98.50.
The company’s stocks have been trading at low levels in the recent weeks and touched a nadir yesterday. However, investors now seem to be lapping up the shares at the prevailing low levels, according to market experts.
Yesterday, shares of the realty firm closed at Rs 83.40, a 14 per cent plunge from the previous close, after its director, Mr Sundaram Rajagopal, stepped down. DB Realty touched a record low of Rs 81.40 yesterday.
Mr Rajagopal becomes the fourth executive to leave DB Realty amid the ongoing investigation into the company’s involvement in the 2G spectrum scam.
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