Indiabulls Housing Finance emerged as the top gainer in the Nifty 500 index on September 13 after 22.5 lakh shares of the company changed hands in a transaction worth Rs 40.8 crore.
At 1.20pm, shares of the housing financier were trading 10.30 percent up at Rs 185.25 on the BSE, snapping its four-day losing streak. The stock had closed 9.12 percent down in the previous session.
The number of shares exchanged amount to 0.5 percent of the total equity, CNBC-TV18 reported. The buyers and sellers could not be immediately ascertained.
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Last month, Indiabulls Housing Finance reported a consolidated profit of Rs 296.2 crore for first quarter of FY24, rising 3.3 percent over previous fiscal. However, its net interest income fell 5.8 percent to Rs 546.5 crore.
The company said that with the completion of its de-promoterisation, its former promoter Sameer Gehlaut, who had set up the Indiabulls brand, has been classified as a public shareholder from February 2023 and was no longer associated with the company in any other way. "Therefore, the continuance of the brand 'Indiabulls' by the company has become untenable and it will thus be relinquishing the 'Indiabulls' brand," it said in an exchange filing.
Shares of the company are up 19 percent on a year-to-date basis, while the one-year return stands at 36 percent. It is still 12 percent down from its 52-week high of Rs 207.80, hit on August 31, 2023.
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