Indiabulls Securities scrip surged 19.08 per cent to Rs 20.6 after the company announced that its board will meet on February 2 to consider a buyback proposal. The stock hit an intra-day high of Rs 20.75 and a low of Rs 18.5, recording trading volumes of 9.93 lakh shares (about three times higher than its two-week average activity).
The company, however, had a poor December quarter. While net profit declined 77 per cent to Rs 20.8 crore, its total income fell 60 per cent to Rs 86.7 crore. The stock made a 52-week high of Rs 300 (April 02, 2008) and a low of Rs 16.8 (January 23, 2009).
