Indiabulls Housing jumps 7% on block deal buzz; thereafter pares gains

A combined 47.34 million equity shares, representing 10.23 per cent total equity of Indiabulls Housing Finance changed hands on the NSE and BSE as of 09:27 AM

Shares of Indiabulls Housing Finance soared 7 per cent to a high of Rs 282.60 on the BSE in Thursday’s intra-day trade on reports that Sameer Gehlaut, the founder of mortgage financier, will sell 11.9 percent stake in the company via a block window deal. On the National Stock Exchange (NSE), the stock opened 5 per cent higher at Rs 279. The stock had hit a 52-week high of Rs 313.50 on June 16, 2021.

At 09:27 am; the stock erases its intra-day gain and was traded flat at Rs 265.40 over its previous close. It hit a low