Indiabulls Housing climbs 2% ahead of Q4 numbers

NEW DELHI: Shares of Indiabulls Housing Finance (IHFL) climbed over 2 per cent in morning trade on Wednesday ahead of its March quarter earnings.

The company may see a difficult fourth quarter, dented by liquidity squeeze in the sector. All eyes will be on the commentary on the road ahead after the housing finance company announced its merger with Laxmi Vilas Bank.

According to Motilal Oswal, non-banking finance companies (NBFCs) are likely to post another quarter of double-digit growth -- 13 per cent YoY - slowest since March 2017.

Edelweiss expects IHFL's standalone core profit after tax to actually decline 4.2 per cent from a year ago to Rs 912.1 crore.

Shares of IHFL traded 1.52 per cent up at Rs 756.60 on BSE around 9:35 am.