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Indiabulls Real Estate slumps post block deal

Indiabulls Real Estate was trading lower by 5.2% at Rs 201 per share at 1025 hours on the NSE. The company’s 1.9 crore shares traded in a block deal on NSE and BSE at an average of Rs 200 per share, worth Rs 385 crore.

Indiabulls Real Estate was trading lower by 5.2% at Rs 201 per share at 1025 hours on the NSE. The company’s 1.9 crore shares traded in a block deal on NSE and BSE at an average of Rs 200 per share, worth Rs 385 crore.

The stock hit its 52-week high of Rs 217.80 per share on June 21, 2017, and hit its 52-week low of Rs 57, per share November 22, 2016.

The stock has delivered 116% returns in a period of one year and has outperformed the BSE Mid-cap and BSE Realty indices over the same time span.

Indiabulls Real Estate had reported a 19% increase in consolidated net profit at Rs 79.8 crore for the quarter ended March 2017.

Its net profit stood at Rs 67.2 crore in the year-ago period, however, the company’s total revenue declined to Rs 545.2 crore in the fourth quarter of the last fiscal from Rs 735.1 crore in the corresponding period of the previous year.

Stock view:

Indiabulls Real Estate Ltd is currently trading at Rs 201.5, down by Rs 11.05 or 5.2% from its previous closing of Rs 212.55 on the BSE.

The scrip opened at Rs 213.7 and has touched a high and low of Rs 213.9 and Rs 197.6 respectively. So far 71336302(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 10089.2 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 217.4 on 21-Jun-2017 and a 52 week low of Rs 57.05 on 22-Nov-2016. Last one week high and low of the scrip stood at Rs 217.4 and Rs 184.6 respectively.

The promoters holding in the company stood at 50.3 % while Institutions and Non-Institutions held 20.78 % and 28.83 % respectively.

The stock is currently trading above its 50 DMA.

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