london August 8, 2012, 12:07 IST
london 08 08, 2012, 12:20 IST
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Reuters Market Eye - Veritas Investment Research has recommended a 'sell' on all stocks in the Indiabulls Group in a report dated August 1, and circulated widely within the India financial community on Wednesday.
Indiabulls Real Estate fell as much as 17.3 percent before recovering to be down 1.8 percent. Indiabulls Financial Services was down 2.2 percent, Indiabulls Power Ltd lost 4.4 percent, while Indiabulls Securities fell 3.3 percent.
When contacted by Reuters, a group official said he was reading the report and the group would respond.
Veritas, an independent Canadian firm, has issued highly critical reports on a handful of Indian companies including Reliance Communications and DLF.