Indiabulls Real Estate rose 2.26% to Rs 81.30 at 10:44 IST on BSE on bargain hunting after the stock fell 20.38% in the preceding nine trading sessions to Rs 79.50 on 11 July 2014, from a recent high of Rs 99.85 on 30 June 2014.
Meanwhile, the BSE Sensex was down 49.52 points, or 0.20%, to 24,974.83.
On BSE, so far 6.34 lakh shares were traded in the counter, compared with an average volume of 24.90 lakh shares in the past one quarter.
The stock hit a high of Rs 82.50 and a low of Rs 79.10 so far during the day. The stock hit a 52-week high of Rs 109.45 on 4 June 2014. The stock hit a 52-week low of Rs 45.10 on 26 February 2014.
The stock had underperformed the market over the past one month till 11 July 2014, falling 18.71% compared with 1.76% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 27% as against Sensex's 10.59% rise.
The mid-cap company has an equity capital of Rs 84.97 crore. Face value per share is Rs 2.
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On a consolidated basis, Indiabulls Real Estate's net profit fell 19.8% to Rs 41.67 crore on 19.1% fall in total income to Rs 341.85 crore in Q4 March 2014 over Q4 March 2013.
Indiabulls Real Estate is one of the largest real estate company in India with development projects spread across high-end office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, state of the art special economic zones and infrastructure development.
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