DB Realty shares fall three 3 percent following court order

DB Realty shares fall three 3 percent following court orderAfter rising substantially, the shares of DB Realty fell three 3 per cent following the Delhi court order disregarding the bail petition of the promoter of the tamed company, Shahid Balwa in the 2G scam case.

The bail petitions of Shahid Balwa as well as several others included in the scam were dismissed by a Delhi court today. The court dismissed the bail applications of Telecom Secretary Siddharth Behura, A Raja's former private secretary R K Chandolia, Swan Telecom promoter Shahid Usman Balwa, Kalaignar TV MD Sharad Kumar, Kusegaon Fruits & Vegetables directors Asif Balwa and Rajiv Agarwal and Bollywood film-maker Karim Morani.

Following the growth in the early morning trade, the shares fell by 3.47 per cent to a low of Rs 70.75 on the Bombay Stock Exchange. The stock was trading 1.23 per cent lower at Rs 72.40 on the BSE.

Ahead of the order, the shares touched a high of Rs 79.55, recording an increase of 8 per cent on the National Stock Exchange. The shares of the company fell by 3.33 per cent to Rs 71, after opening at Rs 74.30 after the order on the NSE.

On the volumes, about 15.61 lakh shares were traded on the BSE and more than 30.66 lakh shares traded on the NSE till the time of the report.