Indiabulls Fin up on fund-raising plan

Indiabulls Financial Services rose 4.44 per cent to Rs 176.4 on plans to raise funds through QIP. The board has agreed to raise around $200 million by issuing equity shares, fully convertible debentures or a placement with qualified institutional buyers.

The stock opened at Rs 177.3, the highest point in the day and made an intraday low of Rs 170. Trading volumes were 22,00,000, around twice its two-week average with 83 per cent delivery volumes.