Indiabulls Housing rises after Blackrock Emerging Markets Fund buys stake

Indiabulls Housing Finance gained 2% to Rs 293 after Blackrock Emerging Markets Fund bought 0.55% stake via bulk deal on 11 June 2021.

As per the bulk deal data on the NSE, Blackrock Emerging Markets Fund bought 25,50,957 equity shares (or 0.55% stake) of Indiabulls Housing Finance at an average price of Rs 287.84 each on Friday, 11 June 2021.

As of 31 March 2021, Blackrock Strategic Funds - Blackrock Emerging Market Fund held 1.19% stake in Indiabulls Housing Finance.

Shares of Indiabulls Housing Finance have rallied 18% in five days from its previous closing low of Rs 247.80 posted on 7 June 2021.

Indiabulls Housing Finance is a housing finance company, regulated by the National Housing Bank (NHB). The company offers competitively priced home loans in the affordable housing segment.

On a consolidated basis, Indiabulls Housing Finance reported 117.8% jump in net profit to Rs 276.23 crore in Q4 FY21 as against Rs 126.85 crore in Q4 FY20. Total income declined 18% year-on-year (Y-o-Y) to Rs 2,421.96 crore during the quarter.

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