Indiabulls Real Estate shares tank over 9% on profit-booking

Shares of Indiabulls Real Estate plunged over 9 per cent today, giving up last session's sharp gains, as investors opted to book profit.
The stock slumped 9.01 per cent to end at Rs 134.80 on BSE. During the day, it tumbled 11.57 per cent to Rs 131.
At NSE, shares of the company tanked 9.14 per cent to close at Rs 134.65.
The company's market valuation fell by Rs 638.68 crore to Rs 6,449.03 crore.
On the volume front, 97.89 lakh shares of the company were traded on BSE and over 8 crore shares changed hands at NSE during the day.

The stock had surged 40 per cent yesterday after the company announced plans to restructure its business.
Indiabulls Real Estate announced plans to restructure its business by creating a separate venture for commercial and leasing operations as part of strategy to have focussed approach on each segments.