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Last Updated : Oct 09, 2019 10:02 AM IST | Source: Moneycontrol.com

Indiabulls Real Estate locked in upper circuit as board to consider share buyback

Indiabulls Real has informed exchanges that the meeting of the board of directors will be held on October 11.

 
 
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Shares of Indiabulls Real Estate were locked in 5 percent upper circuit at Rs 43.10 on October 9 ahead of a board meeting to consider share buyback.

There were pending buy orders of 1,89,071 shares, with no sellers available on the BSE at 0938 hours.

Indiabulls Real has informed exchanges that the meeting of the board of directors will be held on October 11 to consider the proposal of buyback of equity shares of the company.

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Hence, the trading window for dealing in securities, already closed, would remain so till 48 hours after the declaration of financial results for the quarter ended September 30, company said.

The reason behind a buyback could be to boost sentiment that has been hit badly for more than a year now. The stock has lost half of its value in the last one year.

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First Published on Oct 9, 2019 10:02 am
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