Indiabulls Housing Finance hits record high

Indiabulls Housing Finance gained 2.18% to Rs 1,010.50 at 10:25 IST on BSE after the company said that it allotted its twentieth tranche of secured, redeemable, non-convertible debentures on private placement basis.

The announcement was made after market hours on Friday, 21 April 2017.

On the BSE, 41,341 shares were traded in the counter so far, compared with average daily volumes of 10.63 lakh shares in the past one quarter. The stock had hit a high of Rs 1,013.20 in intraday trade, which is also a record high for the stock. The stock had hit a low of Rs 992 so far during the day. The stock had hit a 52-week low of Rs 616.05 on 27 December 2016.

The stock had outperformed the market over the past one month till 21 April 2017, gaining 6.04% compared with 0.41% drop in the Sensex. The scrip had also outperformed the market in past one quarter, rising 31.97% as against Sensex's 8.62% rise.

The stock has risen 5.61% in three sessions to ruling price of Rs 1,010.50, from a close of Rs 956.75 on 19 April 2017.

The large-cap company has equity capital of Rs 84.79 crore. Face value per share is Rs 2.

Indiabulls Housing Finance said that in terms of the board authorization dated 21 October 2016, the company has on 21 April 2017, allotted its twentieth tranche of secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating to Rs 25 crore on private placement basis.

On 10 November 2016, the company had intimated proposal to issue, secured, redeemable, non-convertible debentures of face value Rs 10 lakh each aggregating Rs 6000 crore, on a private placement basis.

On a consolidated basis, net profit of Indiabulls Housing Finance rose 24.7% to Rs 751.49 crore on 30.2% rise in total income to Rs 3004.47 crore in Q3 December 2016 over Q3 December 2015.

The company will announce its Q4 results today, 24 April 2017.

Indiabulls Housing Finance is a housing finance company.

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