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Rediff News  All News  » Business » D B Realty gains as Rakesh Jhunjhunwala buys stake

D B Realty gains as Rakesh Jhunjhunwala buys stake

Last updated on: October 15, 2012 12:59 IST

DB Realty has locked in upper circuit of 5 per cent at Rs 98.75 for a second consecutive day after ace investor Rakesh Jhunjhunwala's firm acquired more thanĀ 1 million shares of the Mumbai-based real estate firm through open market transaction.

As per bulk data available with the stock exchanges, RARE Enterprises purchased 1.25 million shares of D B Realty at an average price of Rs 90.21

apiece on Friday. This values the transaction at Rs 11.27 crore (Rs 112.7 million).

A combined 150,000 shares have already changed hands on the counter in opening deals and there are pending buy orders for 4.8 million shares on the NSE and BSE.

SI Reporter in Mumbai