Indiabulls Real Estate slips 7% post huge block deals

A combined 41.89 million shares representing 8.8% of total equity of Indiabulls Real Estate changed hands on NSE and BSE till 10:36 AM.

Indiabulls Real Estate dipped 7% to Rs 232 in intra-day on BSE after more than eight percentage points of total equity of real estate developer changed hands in multiple block deals.

At 10:36 am, the stock was trading 5% lower at Rs 238 on BSE and NSE. A combined 41.89 million shares representing 8.8% of total equity of Indiabulls Real Estate have changed hands on both the exchanges, data shows.

The name of the buyers and sellers were not ascertained immediately.

The promoter group entity IBREL IBL Scheme Trust had sold its entire of 8.99% in the