Shares of Indiabulls Securities jumped over 9 per cent on BSE today after the company announced a Rs 600-crore acquisition of a firm by its subsidiary Indiabulls Distribution Services.
Indiabulls Securities ended the day 9.20 per cent higher at Rs 27.30 on the BSE. During the day, it soared 12 per cent to Rs 28.
At the NSE, shares of the company rose by 8.85 per cent to settle at Rs 27.05.
In terms of volume, 27.03 lakh shares of the company changed hands at the BSE, while over 72 lakh shares were traded at the NSE during the day.
Indiabulls Securities had yesterday said that Indiabulls Distribution Services Ltd, a wholly-owned subsidiary of the company has acquired 100 per cent of the share capital of India Land and Properties Private Limited for a consideration of Rs 600 crore.
India Land and Properties owns a commercial complex of 3 towers with a total constructed area of 2.4 million Sq ft and leasable area of 2 million Sq ft, the company had said in a filing to the BSE.
The total land area of the complex is over 10 acres, it said.
The building complex is renamed as One Indiabulls Park, Chennai.
