Indiabulls Real Estate rose 2.37% to Rs 218.55 at 14:35 IST on BSE after consolidated net profit rose 44.85% to Rs 173.10 crore on 22.64% rise in total revenues to Rs 1096.80 crore in Q1 June 2017 over Q1 June 2016.
The result was announced during market hours today, 24 July 2017.Meanwhile, the S&P BSE Sensex was up 250.32 points or 0.78% at 32,279.21.
On the BSE, 17.75 lakh shares were traded on the counter so far as against the average daily volumes of 32.84 lakh shares in the past one quarter. The stock had hit a high of Rs 220.40 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 210 so far during the day. The stock had hit a 52-week low of Rs 57.05 on 22 November 2016.
The stock had underperformed the market over the past one month till 21 July 2017, gaining 0.45% compared with 2.38% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 49.51% as against Sensex's 9.07% rise. The scrip had also outperformed the market in past one year, surging 143.03% as against Sensex's 15.58% rise.
The large-cap company has equity capital of Rs 94.93 crore. Face value per share is Rs 2.
Indiabulls Real Estate registered new residential sales of Rs 881 crore in Q1 June 2017. The company has acquired the entire minority stake of 10.08% in Indiabulls Infraestate Limited (IIL), from ILFS Fund entities for a total consideration of Rs 358.44 crore. With this acquisition, IIL has become a wholly owned subsidiary of the company.
Indiabulls Real Estate is a real estate development company with development projects spread across office and commercial complexes, premium residential developments, mega townships, retail spaces, hotel and resorts, special economic zones and infrastructure development.
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