Indiabulls Real Estate nudges higher on fund buying

Indiabulls Real Estate was up 0.61% to Rs 222.15 at 9:25 IST on BSE after UBS Principal Capital Asia purchased bulk shares of the company yesterday, 22 February 2018.

Meanwhile, the S&P BSE Sensex was up 124.56 points or 0.37% at 33,944.06.

On the BSE, 46,000 shares were traded on the counter so far as against average daily volumes of 14.30 lakh shares in the past one quarter. The stock had hit a high of Rs 223.50 and a low of Rs 220.80 so far during the day. The stock had hit a 52-week high of Rs 269.50 on 7 August 2017 and a 52-week low of Rs 76.20 on 22 February 2017.

The stock had underperformed the market over the past one month till 22 February 2018, sliding 9.06% compared with the Sensex's 5.53% fall.

The stock had, however, outperformed the market over the past one quarter, advancing 3.61% as against the Sensex's 0.77% rise. The scrip had also outperformed the market over the past one year, surging 188.25% as against the Sensex's 17.17% rise.

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

Orient Global Cinnamon Capital sold 1.64 crore shares of Indiabulls Real Estate at an average price of Rs 211.01 per share in a bulk deal on the BSE yesterday, 22 February 2018. UBS Principal Capital Asia bought 1.61 crore shares at Rs 211 apiece.

Indiabulls Real Estate's consolidated net profit jumped 96.1% to Rs 85.39 crore on 339.1% surge in total income to Rs 2164.44 crore in Q3 December 2017 over Q3 December 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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