
Shares of Indiabulls Real Estate Ltd fell 2% in early deals today as Creditcorp Investment Advisors sold 30,95,129 shares of the firm in a bulk deal on Monday. The transaction was carried out at Rs 85.38 per share which valued the deal at Rs 26.42 crore.
Indiabulls Real Estate stock slipped 2.09% to Rs 83.75 against the previous close of Rs 85.54 on BSE. Indiabulls Real Estate’s market cap fell to Rs 4602.67 crore.
The stock has a beta of 1.6, indicating very high volatility in a year.
The real estate stock has gained 1.27% this year and risen 16% in a year. Total 2.05 lakh shares of the firm changed hands amounting to a turnover of Rs 2.01 crore.
In terms of technicals, the relative strength index (RSI) of Indiabulls Real Estate stands at 64.3, signaling it's trading neither in the overbought nor in the oversold territory. Indiabulls Real Estate shares are trading higher than the 5 day, 10 day, 20 day, 30 day 50 day, 100 day, 150 day and 200 day moving averages.
Indiabulls Real Estate’s loss widened to Rs 679.34 crore in the first quarter of this fiscal year against a loss of Rs 51.77 crore in the year-ago period.
Loss increased due to provisions for possible loss of Rs 629 crore as an exceptional item. In the first quarter of this fiscal, Indiabulls Real Estate’s sale bookings slipped 75 per cent to Rs 74 crore against sale bookings of Rs 297 crore in the year-ago period. In terms of volumes, sale bookings declined to 82,000 square feet during April-June period from 3,33,000 square feet in the corresponding period of the previous year.
Indiabulls Real Estate is engaged in the business of real estate, properties advisory, properties marketing, maintenance of completed properties, engineering, industrial and technical consultancy, construction and development of real estate properties and other related and ancillary activities.
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