After acquiring shares in its sister company, this low-priced real estate stock surged 6 per cent

Following the full acquisition of equity shares in DB Man Realty, the stock of DB Realty hits the upper circuit.

The stock price of DB Realty increased 5.40 points, or 4.98 per cent, from its previous close on the BSE to its upper circuit limit of Rs 113.80. The stock achieved a high of Rs 113.80 and a low of Rs 106 since it opened at Rs 106.55. The 52-week high of Rs 139.45 was reached on September 23, 2022, and the 52-week low was touched on October 8, 2021, for this BSE group "B" stock. The high and low during the previous week were Rs 117.25 and Rs 102.60, respectively.

A subsidiary company, DB Man Realty (DB Man), in which the company/its nominees already have a 91 per cent stake, has been fully acquired by DB Realty. After the corporation buys the shares, DB Man will become a fully owned subsidiary of the business. The goal of the acquisition is to turn DB Man into a wholly-owned subsidiary business.

A real estate development firm in and around Mumbai, DB Realty focuses on residential, commercial, retail, and other projects like mass housing and cluster redevelopment.

The company's portfolio includes premium real estate totalling more than 100 million square feet. With an emphasis on residential, commercial, retail, and other projects including mass housing and cluster redevelopment, the group is in the real estate development industry. The sale of transferable development rights or land accounts for 83 per cent of the company's revenue, while the selling of actual properties accounts for 15 per cent.

The company's first quarter of FY23 saw revenue of Rs 7 crore and trailing 12-month sales of Rs 219 crore. The company's current market capitalisation is Rs 3689.10 crore. Institutions held 3.42 per cent of the corporation, while non-institutions held 31.30 per cent, and the promoters hold 65.28 per cent.