Indiabulls Ventures rallies over 150% in 3 months; stock nears 52-week high

The stock rallied 13% to Rs 229 in intra-day trade on Thursday and has zoomed 151% in the past three months, as compared to 13% rise in the S&P BSE Sensex

Shares of Indiabulls Ventures rallied 13 per cent to Rs 229 on the BSE in intra-day trade on Thursday on heavy volumes. The stock of financial services company was trading close to its 52-week high level of Rs 229.80 touched on February 24, 2020.

The company on Wednesday reported a consolidated net profit of Rs 12.42 crore for the quarter ended June 2020, as against profit of Rs 122 crore in year ago quarter. It had reported a consolidated net loss of Rs 319 crore in previous quarter.

At 03:11 pm; Indiabulls Ventures was trading 9 per cent