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Last Updated : Sep 15, 2017 02:56 PM IST | Source: Moneycontrol.com

Indiabulls Ventures cools off post 4% gain as CLSA invests 3% in stock

The global broking firm said that the investment in the firm will be paid for by shaving investments in HDFC Bank by 1 percentage point, along wit Indiabulls Housing and Bajaj Finance by 1 percentage point.

Shares of Indiabulls Ventures traded in the red after gaining around 4 percent intraday after CLSA initiated a coverage with 3 percent investment in it.

The global broking firm said that the investment in the firm will be paid for by shaving investments in HDFC Bank by 1 percentage point, along with Indiabulls Housing and Bajaj Finance by 1 percentage point.

CLSA’s popular report, Greed & Fear, also shared an upbeat mood towards Chinese & Indian equities.

Additionally, it also highlighted the flows into equity mutual funds. “It surged to a record high of Rs 20,400 crore in August, up from Rs 12,700 crore in July. This was prompted by locals “buying the dip” after a 4.2% decline in the Sensex last month,” the brokerage said in its report. Further, it added that net inflows into Indian equity mutual funds have now totalled Rs 81,000 crore (US$12.5bn) in 2017 so far.

mutual fund

The stock has risen 50 percent in the past one month, while its three-day movement was seen at 12 percent. At 12:46 hrs Indiabulls Ventures was quoting at Rs 282.60, down Rs 1.45, or 0.51 percent, on the BSE. It touched a 52-week high of Rs 295.05.

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First Published on Sep 15, 2017 12:57 pm
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