Indiabulls Ventures drops on profit taking

Indiabulls Ventures lost 1.2% to Rs 258 at 9:37 IST on BSE, with the stock sliding on profit booking after recent gains.

Meanwhile, the S&P BSE Sensex was down 142.95 points or 0.42% at 33,701.91.

On the BSE, 19,000 shares were traded on the counter so far as against average daily volumes of 2.91 lakh shares in the past one quarter. The stock had hit a high of Rs 263 and a low of Rs 258 so far during the day. The stock had hit a record high of Rs 305.81 on 3 November 2017 and a 52-week low of Rs 33.73 on 17 February 2017.

The stock had underperformed the market over the past one month till 21 February 2018, sliding 5.12% compared with the Sensex's 4.69% fall. The stock had, however, outperformed the market over the past one quarter, advancing 2.14% as against the Sensex's 1.09% rise. The scrip had also outperformed the market over the past one year, surging 613.91% as against the Sensex's 17.67% rise.

The large-cap company has equity capital of Rs 105.07 crore. Face value per share is Rs 2.

Shares of Indiabulls Ventures had risen 6.26% in the previous two trading sessions to settle at Rs 261.15 yesterday, 21 February 2018, from its closing of Rs 245.75 on 19 February 2018.

Meanwhile, Valiant Mauritius Partners Offshore purchased 29.88 lakh shares of Indiabulls Ventures at Rs 255 per share in a bulk deal on the NSE yesterday, 21 February 2018.

On a consolidated basis, Indiabulls Ventures' net profit surged 563.4% to Rs 70.25 crore on 183.9% growth in total income to Rs 275.21 crore in Q3 December 2017 over Q3 December 2016.

Indiabulls Ventures is one of India's leading capital market companies providing securities, commodities and currency broking services.

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