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Indiabulls Real Estate share price jumps 11% after Q3 profit surges 64% to Rs 80 crore

Indiabulls Real Estate reported a 64 percent rise in its consolidated net profit to Rs 80.69 crore for the quarter ended December. Its net profit was Rs 49.27 crore in the year-ago period.

January 19, 2021 / 10:37 AM IST
 
 
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Indiabulls Real Estate share price jumped over 11 percent intraday on January 19 after the company declared ist Q3 results.

Indiabulls Real Estate on January 18 reported a 64 percent rise in its consolidated net profit to Rs 80.69 crore for the quarter ended December. Its net profit was Rs 49.27 crore in the year-ago period.

The company's total income was Rs 756.81 crore during the third quarter of the fiscal year, against Rs 1,317.70 crore a year ago, the Mumbai based realtor said in regulatory filing.

The stock was trading at Rs 86.30, up Rs 8.20, or 10.50 percent at 10:02 hours. It has touched an intraday high of Rs 87.90 and an intraday low of Rs 81.10.

The scrip was trading with volumes of 876,116 shares, compared to its five day average of 483,260 shares, an increase of 81.29 percent.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: Price above short, medium and long term moving averages. The company has zero promoter pledge with increasing profits every quarter for the past 2 quarters.

However, Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Jan 19, 2021 10:37 am

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