Indiabulls Real Estate reverses recent slide

Indiabulls Real Estate rose 1.05% to Rs 198 at 14:35 IST on BSE on bargain hunting after sliding 11.41% in the preceding six trading sessions to settle at Rs 195.95 yesterday, 6 March 2018, from its close of Rs 221.20 on 23 February 2018.

Meanwhile, the S&P BSE Sensex was down 212.53 points or 0.64% at 33,104.67.

On the BSE, 8.53 lakh shares were traded on the counter so far as against average daily volumes of 26.72 lakh shares in the past one quarter. The stock had hit a high of Rs 200.55 and a low of Rs 193 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 78.10 on 10 March 2017.

The large-cap company has equity capital of Rs 94.93 crore. Face value per share is Rs 2.

Indiabulls Real Estate's consolidated net profit jumped 96.12% to Rs 85.39 crore on 339.1% surge in total income to Rs 2164.44 crore in Q3 December 2017 over Q3 December 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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