The stock surged over 160 percent in the last 3 months
Indiabulls Housing Finance share price surged 15 percent intraday on June 22 after a brokerage firm picked up stake in the company.
Morgan Stanley Asia (Singapore) Pte bought 45,22,602 shares of the company at Rs 184.76 per share, according to bulk deal data available on NSE.
Separately, iShares Emerging Markets Dividend UCITS ETF bought 25,69,494 shares in company at Rs 189.51 per share and iShares Emerging Markets Dividend ETF bought 45,58,746 shares in company at Rs 189.51 per share.
The stock has surged over 160 percent in the last 3 months. It was quoting at Rs 234.75, up Rs 30.60, or 14.99 percent, hitting upper circuit of Rs 224.55 per share on BSE in early trade.
Indiabulls Housing Finance is one of the 12 stocks which will be added in the Nifty Midcap 100 index effective June 26.
The company said that it has raised Rs 200 crore by issuing securities to two large public sector banks on private placement basis. "The company has today, June 12, 2020, allotted 2,000 secured, redeemable, non-convertible debentures of face value Rs 10 lakh each (NCDs) aggregating to Rs 200 crore, on a private placement basis," it said in a regulatory filing.
According to Moneycontrol SWOT Analysis powered by Trendlyne, Indiabulls Housing Finance has zero promoter pledge with book value per share improving for last two years.
Moneycontrol technical rating is bullish with technical indicators and moving averages being bullish.
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