2G trial court grants bail to Shahid Balwa; DB Realty

DB Realty rallied 8% after 2G trial court granted bail to Shahid Balwa, one of promoters of DB group and erstwhile MD of the company. The stock was quoting at Rs 76.95 on the National Stock Exchange at 13:51 hours IST.

November 29, 2011 / 16:30 IST

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DB Realty rallied 8% after 2G trial court granted bail to Shahid Balwa, one of promoters of DB group and erstwhile MD of the company. The stock was quoting at Rs 76.95 on the National Stock Exchange at 13:51 hours IST. Shahid Balwa, also a promoter of Swan Telecom, had got arrested by CBI on February 8, 2011.

The company reported a net profit of Rs 18.75 crore in the second quarter of FY12, a fall of 78.4% quarter-on-quarter and 87.5% year-on-year. Total income stood at Rs 23.39 crore, down 74% as compared to previous quarter and 86% compared to a year ago period.

first published: Nov 29, 2011 02:05 pm

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