DB Realty gains after reappointing 2G accused founders

[caption id=“attachment_153985” align=“alignleft” width=“380” caption=“2G scam accused Shahid Balwa. Reuters”] [/caption]

Shares in realtor DB Realty rose as much as 5.74 percent after the company said it appointed Vinod Goenka as executive chairman and managing director, and Shahid Balwa as vice-chairman and managing director from Saturday , two analysts said.

The Supreme Court had granted bail to both the executives charged in a telecom licensing scandal.The move is expected to help the company bring its stalled projects back on track, said one of the analysts.

At 10.45 a.m, the stock was at Rs 65.60, up 3.23 percent.

Reuters