Indiabulls Real Estate extends gain as Jhunjhunwala's firm buys stake

On November 12, Rare Enterprises purchased 5 million equity shares of Indiabulls Real Estate at Rs 57.73 per share via open market transaction

Shares of Indiabulls Real Estate surged 16 per cent to Rs 63.90 on the National Stock Exchange (NSE) on Friday, rallying 32 per cent in two days after Rare Enterprises acquired 5 million shares of the real estate company via open market on Thursday.

On November 12, 2020, Rare Enterprises, owned by ace investor Rakesh Jhunjhunwala, purchased 5 million equity shares, or 1.1 per cent equity stake, in Indiabulls Real Estate via open market transaction. Rare Enterprises bought shares worth of Rs 28.86 crore at price of Rs 57.73 per share, bulk deals data available on the NSE showed.