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Indiabulls Real Estate advances on fund raising plan

Capital Market 

Indiabulls Real Estate rose 1.61% to Rs 207.95 at 11:45 IST on BSE after the company said that its board will meet on 24 July 2017, to consider issuance of non-convertible redeemable debentures on private placement basis.

The announcement was made after market hours yesterday, 17 July 2017.

Meanwhile, the S&P BSE Sensex was down 238.50 points or 0.74% at 31,836.28. The S&P BSE Mid-Cap index was down 2.65 points or 0.02% at 15,194.80.

On the BSE, 8.29 lakh shares were traded on the counter so far as against the average daily volumes of 35.93 lakh shares in the past one quarter. The stock had hit a high of Rs 209.70 and a low of Rs 200.85 so far during the day. The stock had hit a 52-week high of Rs 217.40 on 21 June 2017 and a 52-week low of Rs 57.05 on 22 November 2016.

The stock had underperformed the market over the past one month till 17 July 2017, rising 2.79% compared with the Sensex's 3.28% rise. The stock had, however, outperformed the market over the past one quarter, gaining 38.14% as against the Sensex's 9.05% rise. The scrip had also outperformed the market over the past one year, jumping 132.03% as against the Sensex's 15.23% rise.

The mid-cap company has equity capital of Rs 94.93 crore. Face value per share is Rs 2.

The company will also announce its Q1 results on 24 July 2017. On consolidated basis, Indiabulls Real Estate's net profit fell 3.7% to Rs 60.18 crore on 38.4% decline in net sales to Rs 437.03 crore in Q4 March 2017 over Q4 March 2016.

Indiabulls Real Estate is a real estate development company with development projects spread across office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 18 2017. 12:30 IST