- The stock hit its new 52-week high of ₹134.05 on 14th February 2022 after which it has been hitting the lower circuit for five days. It has lost more than 18% since then.
- According to experts, this sharp downside was expected by many investors as the stock had given a similar upside.
- DB Realty’s board had approved to raise funds via an issue of 50 million warrants convertible into an equivalent number of equity shares, earlier this month.
DB Realty’s share price has been hitting the lower circuit for the last five trading sessions, after hitting continuous upper circuit levels since 28th January 2022. The multi-bagger stock opened at ₹97.35, down by ₹5.10 or 4.98% since its previous close on Monday.
Rakesh Jhunjhunwala holds 50 lakh shares in this real estate company, which is 2.06% of the total issued paid-up capital of the real estate company, according to the shareholding pattern for October to December 2021.
According to stock market experts, the company’s stock price has strong support at ₹100 levels. They said that long-term investors should maintain a stop loss below ₹100 and hold it, while positional investors should avoid buying more shares until it gets stabilized. This sharp downside was expected by many investors as the stock had given a similar upside.
The stock hit its new 52-week high of ₹134.05 on 14th February 2022 after which it has been hitting the lower circuit for five days. It has lost more than 18% since then. Before this nosedive, Rakesh Jhunjhunwala had a great run.
Despite this strong beating for the last five trading sessions, this Rakesh Jhunjhunwala portfolio stock has delivered a 120% return to its shareholders in year-to-date or YTD.
“For last three weeks, this stock has remained a circuit to circuit stock and hence positional investors are advised to avoid fresh position in the scrip. Those who have this stock in their portfolio should continue to hold the multi-bagger stock maintaining stop loss below ₹100 as the realty stock has strong support at ₹100 levels and DB Realty shares are expected to stabilize above these levels soon,” Sumeet Bagadia, Executive Director at Choice Broking said.
DB Realty’s share price surged from ₹ 74.90 on January 27, 2022, on the NSE to ₹134.05 levels, appreciating by approximately 80 per cent in those 12 trading sessions.
This happened as the ace investor bought more stake in the company in the wake of a fundraising programme. DB Realty’s board had approved raising funds via an issue of 50 million warrants convertible into an equivalent number of equity shares, earlier this month.
