Indiabulls Real Estate bounces back from recent losses

Indiabulls Real Estate rose 6.04% to Rs 220.45 at 15:10 IST on BSE, with the stock bouncing back on bargain hunting after recent losses.

Meanwhile, the S&P BSE Sensex was up 49.49 points or 0.15% at 33,728.73.

On the BSE, 15.70 lakh shares were traded on the counter so far as against the average daily volumes of 15.78 lakh shares in the past one quarter. The stock had hit a high of Rs 221.50 and a low of Rs 207.65 so far during the day. The stock had hit a 52-week high of Rs 269.50 on 7 August 2017 and a 52-week low of Rs 65 on 19 December 2016.

Shares of Indiabulls Real Estate had fallen 10.71% in the preceding four trading sessions to settle at Rs 207.90 on Friday, 24 November 2017, from its closing of Rs 232.85 on 20 November 2017.

Indiabulls Real Estate's consolidated net profit fell 30.3% to Rs 93.90 crore on 1.5% growth in net sales to Rs 721.58 crore in Q2 September 2017 over Q2 September 2016.

Indiabulls Real Estate is a real estate development company with development projects spread across office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.

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