Indiabulls Financial slips on profit booking

DALAL STREET SPIKES

The stock of financial services company, Indiabulls Financial Services corrected over 5 per cent on profit booking after a smart run up in the past few days. The stock closed at Rs 234.05, down 5.04 per cent with volumes accounting for more than 13.7 lakh shares on the BSE alone.

The counter witnessed selling pressure after the company priced its GDR at Rs 235. A dealer with a domestic broking firm said, "the counter reacted after the company announced issuing its GDR at Rs 235." Indiabulls on Thursday announced the successful completion of its GDR offering of $150 million or Rs 650 crore. It issued 2.76 crore shares at the end of a successful roadshow in London and New York.