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Indiabulls Real Estate surges on fund raising proposal

Capital Market 

Indiabulls Real Estate jumped 6.18% to Rs 203.65 at 14:20 IST on BSE after the company said it proposes to issue non-convertible debentures aggregating Rs 500 crore on a private placement basis.

The announcement was made after market hours yesterday, 22 June 2017.

Meanwhile, the S&P BSE Sensex was down 102.15 points or 0.33% at 31,188.59.

On the BSE, 49.93 lakh shares were traded on the counter so far as against the average daily volumes of 38.03 lakh shares in the past one quarter. The stock had hit a high of Rs 204.60 and a low of Rs 190.15 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 outperformed the market over the past one month till 22 June 2017, advancing 14.71% compared with the Sensex's 2.35% rise. The stock had also outperformed the market over the past one quarter, surging 137.08% as against the Sensex's 7.28% rise. The scrip had also outperformed the market over the past one year, advancing 105.02% as against the Sensex's 16.91% rise.

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

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: Fri, June 23 2017. 14:19 IST