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Indiabulls Real Estate drops after bulk deal

Capital Market 

Indiabulls Real Estate lost 4.27% to Rs 239.65 at 15:16 IST on BSE after a bulk deal of 42.58 lakh shares was executed on the scrip at Rs 235 per share at 09:27 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 146.69 points or 0.45% at 32,419.30.

Bulk deal boosted volume on the scrip. On the BSE, 1.69 crore lakh shares were traded on the counter so far as against the average daily volumes of 24.59 lakh shares in the past one quarter. The stock had hit a high of Rs 254.40 and a low of Rs 230.30 so far during the day. The stock had hit a 52-week high of Rs 269.50 on 7 August 2017. The stock had hit a 52-week low of Rs 57.05 on 22 November 2016.

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

Indiabulls Real Estate's consolidated net profit rose 30.6% to Rs 152.57 crore on 23.4% rise in net sales to Rs 1076.82 crore in Q1 June 2017 over Q1 June 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: Mon, September 18 2017. 15:17 IST