2G scam: Shahid Balwa granted bail; DB Realty up over 13%
Shares of DB Realty surged nearly 14% on Tuesday after a special CBI court granted bail to Swan Telecom promoter Shahid Balwa.
By ET Online and Agencies | Updated:
NEW DELHI: Shares of DB Realty Ltd surged nearly 14% on Tuesday after a special CBI court granted bail to Swan Telecom promoter Shahid Balwa, an accused in the spectrum allocation case.
Yesterday, DMK MP Kanimozhi granted bail by the Delhi high court in the 2G case. Apart from Kanimozhi, the other accused who have been granted bail include Cineyug founder Karim Morani, Kalaignar TV's MD Sharath Kumar, Kusegaon directors Asif Balwa and Rajeev Agarwal.
Shares of DB Realty Ltd closed 8.6% higher at Rs 77. The stock hit a high of Rs 81.00 and a low of Rs 70.85 in trade today.
Analyst Call:
Avoid DB Realty: Vijay Bhambwani
Author, CEO, BSPLindia.com
The stock is showing signs of attempting to bottom out in near term and I would not be surprised if the stock actually went up to Rs 80-82 levels. In terms of including the stock in the portfolio, it is a no no.
Sandeep Wagle, Founder & MD, APTART Technical Advisory Services
The stock looks positive on the chart however, its movement in more news based today. The stock can be traded for few hours buy with tight stop-loss. However, the volumes and price suggest some more upside for the stock.
Yesterday, DMK MP Kanimozhi granted bail by the Delhi high court in the 2G case. Apart from Kanimozhi, the other accused who have been granted bail include Cineyug founder Karim Morani, Kalaignar TV's MD Sharath Kumar, Kusegaon directors Asif Balwa and Rajeev Agarwal.
Shares of DB Realty Ltd closed 8.6% higher at Rs 77. The stock hit a high of Rs 81.00 and a low of Rs 70.85 in trade today.
Analyst Call:
Avoid DB Realty: Vijay Bhambwani
Author, CEO, BSPLindia.com
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The stock is showing signs of attempting to bottom out in near term and I would not be surprised if the stock actually went up to Rs 80-82 levels. In terms of including the stock in the portfolio, it is a no no.
Sandeep Wagle, Founder & MD, APTART Technical Advisory Services
The stock looks positive on the chart however, its movement in more news based today. The stock can be traded for few hours buy with tight stop-loss. However, the volumes and price suggest some more upside for the stock.
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