Over 300 stocks have hit fresh 52-week low on the BSE including names like NALCO, Indiabulls Housing Finance, Vedanta, Indian Bank, NTPC, IDBI Bank, JSW Steel, Tata Chemicals, Coal India and Balkrishna Industries.
"With this investment, the total equity capital in the bank will be Rs 7,000 crore," Indiabulls Housing Finance said in a regulatory filing.
Motilal Oswal is bullish on Indiabulls Housing Finance has recommended buy rating on the stock with a target price of Rs 900 in its research report dated February 01, 2019.
The company attributed the fall in net income to the one-time gain in the December 2017 quarter, when it had sold a third of its stake in Oak North Bank to GIC of Singapore for Rs 767.78 crore, booking a one-time profit of Rs 542.44 crore, boosting its bottomline.
Gagan Banga, Managing Director of Indiabulls Housing Finance, said the company has taken some small developers to the NCLT.
Contra trades can be considered such as going long on the decline on the Nifty Jan Futures in the 10,500-10,550 zone and keeping a strict stop loss around the 10,480 levels.
It is time to remain on sidelines and wait for a breakout above 10950 to go long and a breakdown below 10600 to go short on the index.
Disposing of the complaint, the regulator said prima facie the case does not contravene the provisions of Sections 3 and 4 of the Competition Act.
The breadth of the market favoured the declines with 742 stocks advancing and 858 declining while 459 remained unchanged. On the BSE, 969 stocks advanced, 993 declined and 95 remained unchanged.
MF industry assets grew to Rs 23.4 lakh crore, on the back of improved inflows into liquid funds and steady equity markets
Investors will be better off not to touch high beta names until some clarity emerges with respect to General Elections 2019
The general rule is that when a stock is trading below its 5-year PE, it usually indicates sluggish movement in price, which is further linked to earnings potential
According to the statement, the company is in the process of issuing secured, redeemable, non-convertible debentures of face value Rs 10 lakh each aggregating Rs 20,000 crore, on a private placement basis.
The Nifty rollover for December series stand at 48.62 percent so far, slightly lower than the 3-month average of 68 percent, ahead of expiry.
Challenging times ahead for housing finance companies amidst tight liquidity scenario
A company official said it is regarding concerns stemming from its exposure to Supertech Group, whose credit ratings have been downgraded to default.
The shares were disposed of at an average price of Rs 691.84, valuing the transaction at Rs 171.56 crore, the data showed.
Indiabulls Housing Finance's today's fall was on top of 34 percent correction seen from the beginning of calendar year.
Motilal Oswal is bullish on Indiabulls Housing Finance has recommended Buy rating on the stock with a target price of Rs 1150 in its research report dated October 16, 2018.
At the time when the NBFC sector is grappling with funding issue, IBHF is guiding for medium term loan growth of 20-25 percent which clearly signals its relatively strong liquidity position.
IBHFL reported a profit of Rs 1,044.1 crore for the second quarter of the current fiscal, up 21.2 percent over the year-ago period.
The company closed September 2018 with cash and liquid investments of Rs 21,249.7 crore.