Indiabulls Real Estate rises on stake buy by FIIs

Indiabulls Real Estate is trading higher by 4% at Rs 79.25 after Macquarie Bank has bought 1.12% stake in the real estate company through bulk deals.

The foreign institutional investors had bought 4.5 million shares at an average market price of Rs 75.63 per share in multiple bulk deals on the NSE and BSE on Thursday, according to information filed by the company to the stock exchanges.

The stock opened at Rs 75.50 and hit a high of Rs 79.80 on the NSE. A combined 2.39 million shares have changed hands on the counter till 0958 hours.