Indiabulls Housing Finance Ltd’s shares had soared 7 per cent to a high of Rs 282.60 on the BSE in Thursday’s intra-day trade on reports that Sameer Gehlaut, the founder of mortgage financier, will sell an 11.9 per cent stake in the company via a block window deal. On the National Stock Exchange (NSE), the stock opened 5 per cent higher at Rs 279. The stock had hit a 52-week high of Rs 313.50 on June 16, 2021.

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The morning stock erased its intra-day gain and was traded flat at Rs 265.40 over its previous close. It hit a low of Rs 263.90 in intra-day trade on BSE. In comparison, the S&P BSE Sensex was up 0.57 per cent at 58,115 points.

A combined 47.34 million equity shares, representing 10.23 per cent total equity of Indiabulls Housing Finance, changed hands on the NSE and BSE. The names of buyers and sellers were not ascertained immediately.

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Indiabulls Housing Finance Ltd-View Detailed Analysis