Indiabulls Real Estate zooms 12% after clarification on ED investigation

Shares of Indiabulls Real Estate zoomed 12 per cent to Rs 115.55 on the NSE in Tuesday’s intra-day trade in an otherwise weak market on the back of heavy volumes after the company clarified that Enforcement Directorate (ED) investigation did not pertain to the company and has no bearing on the business and operations of the company.

At 11:40 am; the stock traded 10.6 per cent higher at Rs 114, as compared to a 1.1 per cent decline on the S&P BSE Sensex. The trading volume at the counter jumped considerably times with a combined 39 million equity shares