Indiabulls Real Estate jumped 3.14% to Rs 72.30 at 15:19 IST on BSE on market speculation that the company is considering a share buyback.
Meanwhile, the BSE Sensex was up 41.67 points, or 0.20%, to 20,892.41.
On BSE, 34.41 lakh shares were traded in the counter compared with average volume of 9.97 lakh shares in the past one quarter.
The stock hit a high of Rs 74.10 and a low of Rs 70.60 so far during the day. The stock hit a 52-week high of Rs 87.30 on 17 May 2013. The stock hit a 52-week low of Rs 50.15 on 10 April 2013.
The stock had outperformed the market over the past one month till 18 November 2013, rising 10.57% compared with the Sensex's 0.15% fall. The scrip had also outperformed the market in past one quarter, gaining 22.87% as against Sensex's 12.11% rise.
The mid-cap company has an equity capital of Rs 86.40 crore. Face value per share is Rs 2.
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According to a media report, Indiabulls Real Estate plans to buy back equity shares worth Rs 800 crore.
Indiabulls Real Estate's consolidated net profit jumped 151.86% to Rs 81.20 crore on 31.64% growth in total income from operations to Rs 450.62 crore in Q2 September 2013 over Q2 September 2012.
Indiabulls Real Estate has projects spread across high-end offices and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.
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