Enter Indiabulls Housing on correction: Suresh Ganapathy

Suresh Ganapathy, Banking Analyst at Macquarie Capital Securities told CNBC-TV18, "Indiabulls Housing Finance - It does raise some issues about how come in a way in which the money is actually trying to be deployed because the management had not indicated something like that happening that they would be looking at some deposit franchise in UK. So, a ten percent correction has more or less factored the downside or the negative perception of the investors on the stock. So, over the longer term it still remains a decent bet on the housing story and a ten percent correction is a good opportunity to enter into the stock."Indiabulls Housing Finance ended at Rs 614.75, up Rs 11.90, or 1.97 percent.