Indiabulls Housing Finance rose 1.61% to Rs 157.40 after Indiabulls Housing Finance-Employees Welfare Trust acquired 0.63% stake of the company via bulk deals on NSE.
On Monday (21 September), Indiabulls Housing Finance-Employees Welfare Trust bought 27 lakh equity shares (0.63% stake) of Indiabulls Housing Finance at Rs 156.95 per share via bulk deals on the NSE.
The housing finance company's consolidated net profit tumbled 65.5% to Rs 272.84 crore on 33.7% drop in total income to Rs 2,578.23 crore in Q1 June 2020 over Q1 June 2019.
Indiabulls Housing Finance's primary business activities are to carry on business of investing and finance related activities (investing in various subsidiaries, financing of loans and credit activities) and fee income, which mainly consists of financial service related fee income from services, selling of insurance products as a licensed corporate agent, and other related ancillary services.
Currently, the stock is 65.02% away from its 52-week high of Rs 450 hit on 23 September 2019. The scrip has soared 93.72% from its 52-week low of Rs 81.25 hit on 20 March 2020.
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