Indiabulls Ventures zooms over 100% in one month

The board is scheduled to meet today consider preferential issue to certain foreign investor(s)

Indiabulls Ventures is locked in upper circuit for the third day in a row at Rs 109, up 5% on BSE, ahead of board meeting today to consider preferential issue of equity shares of the company, to certain foreign investor(s).

The stock of company engaged in financial services business has outperformed the market by surging 127% from Rs 48 on March 21, as compared to 0.17% rise in the S&P BSE Sensex.

On April 7, 2017, the board had approved preferential offer & issue of 38.86 million equity shares at an issue price of Rs 58.40 per equity