Indiabulls Group shares in focus; Indiabulls Ventures zooms 37% in two days

Shares of Indiabulls Group companies such as Indiabulls Ventures, Indiabulls Real Estate and Indiabulls Housing Finance were trading higher by up to 20% on the BSE on Monday.

Indiabulls Ventures hit a new high of Rs 381, up 20% in intra-day today, gaining 37% in past two trading days from Rs 278 on Thursday, on back of heavy volumes.

At 02:26 pm; the stock was trading 17% higher at Rs 373 against 0.28% rise in the S&P BSE Sensex.

The trading volumes on the counter jumped nine-fold with a combined 25.19 million shares representing 5.7% of total equity of Indiabulls Ventures have changed hands on the NSE and BSE so far.

On clarification with reference to increase in volume, Indiabulls Ventures said that as of now, there is no information / announcement, which require disclosure by the Company, in terms of SEBI (LODR) Regulations.

The Company shall submit any such announcement(s) / intimation, as and when required to be disclosed to the Exchanges, it added.

Indiabulls Ventures is one of leading capital market company providing securities and derivative broking services. The company is registered with SEBI as stock broker, depository participant, research analyst and merchant banker in category I.

Indiabulls Real Estate soared 9% to Rs 193, surging 12% in past two trading days. Last week, the realty developer through its wholly-owned subsidiary Indiabulls Infraestate had entered into pact with Oricon Enterprises for joint development of a commercial building in Mumbai’s Worli locality, the developer said in a regulatory filing.

The developer has executed a non binding term sheet with the Oricon Enterprises, the owner of around 3512 square meters land parcel situated at Dr. E. Moses Road in Worli. Upon execution of the definitive agreements, Indiabulls Infraestate will get exclusive ownership rights of around 0.26 million square feet leasable area, it added.