This Rakesh Jhunjhunwala-backed realty stock hits upper circuit; surges nearly 500% in one year, over 1000% in 2 years

This real estate share in Rakesh Jhunjhunwala's portfolio touched 5 per cent upper circuit to trade on new 52-week high of Rs 111.15 per share in Tuesday's intraday trade on the BSE. This realty stock was also gained Rs 5.25 or 4.99% to Rs 110.40 per share on the National Stock Exchange (NSE).  

Shares of DB Realty have gained whooping 77% in the last one month alone on the NSE. Against Rs 62.25 on January 10, this Jhunjhunwala stock gained Rs 48.15 to be locked in upper circuit at Rs 110.40 per share on Tuesday, February 8.  

Big Bull of the Indian stock market Jhunjhunwala holds 50,00,000 equity shares or 2.06% stake in the real estate firm under his wife's name Rekha Jhunjhunwala for the quarter ended December 2021, showed BSE shareholding pattern of the company.  

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Technical data of the DB Realty shows the stock gained 27% in a week, 150% in six months and massive 488% in one year till February 8. Not just that, the shares of realty firm have been registering consistent multibagger returns for the past couple of years as the stock has spiked by over 1000% return in the last two years on February 8.   

Founded in 2007, DB Realty limited boasts of expanding portfolio of over 100 million sq. ft of prime property across 35 exclusive projects. Most of the projects of the company are based in and around Mumbai, and are under various stages of planning and construction. 

Recently, Godrej Properties Limited's reversing its decision to invest in DB Realty has also failed to deter the price upward march as the stock has been consistently hitting upper circuits and trading on new highs.   

Godrej Properties was to invest Rs 700 crore in DB Realty only to reverse it later.  

Apart from this, a JV (Joint Venture) between Godrej Properties and DB Realty was planned for a slum redevelopment project, in which the former would have invested Rs 300 crore out of the total Rs 700 crore investment. The JV was worth Rs 600 cr.