Indiabulls Housing extends rally on buying by FPIs, zooms 40% in two days

On Thursday, November 28, Government Pension Fund Global had bought 3.1 million equity shares representing 0.73 per cent stake in Indiabulls Housing Finance at price of Rs 305.60 per share on the NSE.

Shares of Indiabulls Housing Finance rallied 13 per cent to Rs 377 in early morning deals on Friday on the National Stock Exchange (NSE) after foreign portfolio investors (FPIs) bought nearly one percentage points stake in the company through open market. The stock of the housing finance company had zoomed 25 per cent on Thursday.

On November 28, Government Pension Fund Global had bought 3.1 million equity shares, representing 0.73 per cent stake, in Indiabulls Housing Finance for Rs 95 crore on the NSE, bulk deal data shows. The FPIs purchased these shares at the price of Rs 305.60