Meanwhile, the BSE Sensex was down 83.11 points, or 0.46%, to 18,062.14.

On BSE, 2.69 lakh shares were traded in the counter as against an average daily volume of 5.61 lakh shares in the past one quarter.

The stock hit a high of Rs 89.45 and a low of Rs 83.40 so far during the day. The stock had hit a record low of Rs 45.05 on 22 December 2011. The stock had hit a 52-week high of Rs 130 on 31 March 2011.

The stock had outperformed the market over the past one month until 22 February 2012, rising 38.58% compared with the Sensex's 8.40% rise. The scrip had also outperformed the market in past one quarter, spurting 65.09% as against 12.95% rise in the Sensex.

The mid-cap real estate developer has an equity capital of Rs 243.26 crore. Face value per share is Rs 10.

Dubai-based telecom major Etisalat has decided to exit from India and will shut the operation of its Indian arm Etisalat DB, a joint venture with Mumbai-based real estate firm D B Realty, following the Supreme court judgment to cancel 121 licenses.

On 9 February 2012, Etisalat wrote off $827 million relating to India unit Etisalat DB (EDB), in which it owns a 45% stake, after the affiliate's 15 licences were among 122 the Supreme Court ordered to be scrapped.

The Supreme Court of India on 2 February 2012 scrapped 122 licenses issued to nine companies across India's 22 telecom services areas, but said the affected companies can continue operations until the government finalises new rules for allotting licenses and bandwidth.

Etisalat said that it would make a decision on its participation in the Indian market when there is clarity on the auction process, and greater legal and regulatory certainty.

On a consolidated basis, D B Realty's net profit slumped 89.2% to Rs 11.74 crore on 61.6% decline in net sales to Rs 104.80 crore in Q3 December 2011 over Q3 December 2010.

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