INSUBCONTINENT EXCLUSIVE:
Shares of Indiabulls Ventures and Indiabulls Real Estate climbed up to 10 per cent in early trade on Wednesday after they informed bourses
that the board will consider buyback of shares on October 11.
Indiabulls Ventures advanced as much as 9.96 per cent to Rs 109.85, while
Indiabulls Real Estate rallied 5 per cent to Rs 43.10
The BSE Sensex was trading around 64 points, or 0.17 per cent, up at 37,596.
In a BSE filing, Indiabulls Ventures and Indiabulls Real Estate
said that a meeting of the board of directors of the company will be held on Friday, October 11, 2019, to consider, the proposal of buyback
of fully paid-up equity shares of the company.
Shares of Indiabulls Ventures have plunged over 75 per cent from their 52-week high of Rs
473.85 hit on October 17, 2018
Likewise, Indiabulls Real Estate also declined over 70 per cent from its 52-week high of Rs 151 scaled on June 7, 2019.
For the quarter
ended June 2019, Indiabulls Real Estate reported a consolidated net loss of Rs 119.40 crore against a net profit of Rs 117.50 crore in the
On the other hand, Indiabulls Ventures posted 25.19 per cent YoY increase in consolidated net profit at Rs 109.80 crore in Q1FY19 over Rs
87.70 crore in the same period last year.