Indiabulls Housing Finance gained 3.72% to Rs 713.25 at 12:30 IST on BSE after a bulk deal of 16.07 lakh shares was executed on the scrip at Rs 693.90 per share at 09:23 IST on BSE.
Meanwhile, the S&P BSE Sensex was up 168.67 points or 0.63% at 27,068.23
Bulk deal boosted volume on the scrip. On the BSE, 17.20 lakh shares were traded in the counter so far as against average daily volume of 1.21 lakh shares in the past one quarter. The stock had hit a high of Rs 713.50 and a low of Rs 688.05 so far during the day.
The stock had hit a record high of Rs 895 on 20 October 2016. The stock had hit a 52-week low of Rs 551 on 24 February 2016. The stock had underperformed the market over the past 30 days till 10 January 2017, falling 0.8% compared with the Sensex's 1.45% rise. The scrip also underperformed the market in past one quarter, sliding 18.67% as against the Sensex's 4.21% fall.
The large-cap company has equity capital of Rs 84.75 crore. Face value per share is Rs 2.
Indiabulls Housing Finance recently announced that it has reduced its home loan rate by 45 basis points to 8.65% for its customers with effect from 3 January 2017.
Indiabulls Housing Finance's consolidated net profit rose 23.2% to Rs 684.31 crore on 28.02% growth in total income to Rs 2874.95 crore in Q2 September 2016 over Q2 September 2015.
Indiabulls Housing Finance is a housing finance company. The company also provides other loans, such as loan against residential properties for home improvement and to small businesses, commercial vehicle loans, and corporate loans for housing projects.
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