Godrej Properties shares up over 2% after company announces reversal on DB Realty investment
Godrej Properties Limited's move to reverse its decision of investments in DB Realty has gone down well with the investors on Monday as the stock was trading in the green on Monday. The announcement from the company to invest Rs 700 cr in DB Realty did not augur well for Godrej Properties as the stock witnessed a massive selling pressure on Friday after the announcements was made.
The decision even disappointed many brokerages including CLSA which maintained its Sell ratings for Godrej Properties but decreased the target from Rs 1563 to Rs 1424.