Indiabulls Housing up 10% on withdrawal of PIL in fund siphoning off case

In the past three trading days, till Wednesday, most of the Indiabulls Group stocks fell in the range of 11 to 25 per cent after the development came out in public domain.

Shares of Indiabulls Group companies soared up to 16 per cent from their respective intra-day lows on the BSE  on Thursday after Abhay Yadav, the petitioner who had filed a public interest litigation (PIL) against the housing finance major for siphoning off funds worth Rs 98,000 crore, withdrew the writ petition in Supreme Court.

Following the announcement by Indiabulls Housing Finance, its stock rallied 10 per cent to Rs 686 per share, bouncing back 16 per cent from its intra-day low of Rs 589 on the BSE.

Meanwhile, Indiabulls Ventures surged 12 per cent to Rs 293 apiece, recovering 16