A plant in Uttaranchal will enable the company to benefit from several tax incentives and cheap power. The company will also be able to enhance its existing product portfolio of auto components like shock absorbers, telescopic front forks and McPherson struts.
The stock has appreciated by 33.35 per cent in the last one month while market leader Mahindra and Mahindra saw a decline of 0.2 per cent in the same period.
Stock to watch
Indiabulls Financial Services witnessed heightened institutional interest in the past week. Merrill Lynch Capital Markets bought 55.10 lakh shares or a 3 per cent stake in the company. Citigroup Global Markets too bought 9.78 lakh shares or 0.61 per cent stake at Rs 370.82. Predominantly an equity broking business entity, Indiabulls is now trying to transform itself into a financial services power house. The company is diversifying into consumer financing like retail loans and real estate businesses. It has filed a scheme to demerge its real estate business into a separate entity called Indiabulls Real Estate (IRE) and subsequently is planning to list IRE. | ||||||||||||||||
