Indiabulls Housing Finance soared 22.34% to Rs 249.75 after multiple bulk deals in the counter on Friday, 19 June.
According to the bulk deal data available on NSE, Morgan Stanley Asia (Singapore) bought 45,22,602 shares, or 1.06% stake, of Indiabulls Housing Finance at Rs 184.76 per share on Friday (19 June 2020).Separately, iShares Emerging Markets Dividend UCITS ETF bought 25,69,494 shares (0.60% equity) in Indiabulls Housing Finance at Rs 189.51 per share and iShares Emerging Markets Dividend ETF bought 45,58,746 shares (1.07% equity) in company at Rs 189.51 per share on Friday.
Meanwhile, Integrated Core Strategies (Asia) sold 21,69,410 shares (0.51%) in Indiabulls Housing Finance at Rs 202.12 per share on Friday.
The scrip jumped 115.85% in the past one month. On the technical front, the stock's RSI (relative strength index) stood at 85.982. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day moving average (DMA) placed at 130.06 and its 200-day moving average (DMA) placed at 242.22.
The company's consolidated net profit fell 43.8% to Rs 546.87 crore on a 24.7% decline in total income to Rs 3,369.76 crore in Q3 December 2019 over Q3 December 2018.
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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.
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