Indiabulls Financial rises 3% on Q1 net jump

Indiabulls Financial Services has rallied 3.5% to Rs 178 on the back of 67% jump in Q1 net.

The stock has touched a high of Rs 181, and around 1.6 million shares have changed hands at the counter on the BSE and the NSE.

According to a release issued to the exchanges, the firm's June 2011 net profit rose to Rs 219.52 crore from Rs 131.50 crore in the corresponding quarter a year ago. Net sales too surged by nearly 75% to Rs 757.66 crore and Rs 433.61 crore.