Share Market Live

NSE

Indiabulls Housing Finance Ltd. shares rallied as much as 10 percent in trade on Wednesday after a large trade was executed on the company’s stock. According to bulk deals data available on exchanges, 0.88 percent equity of Indiabulls Housing Finance changed hands through open market transactions on Wednesday.

Indiabulls Housing Finance was in news last week after the mortgage lender said it was paying bonds worth Rs 1,000 crore in advance that were due the following quarter in order to minimise its excess liquidity. The bonds were administered by IDBI Trusteeship Services and had an 8.1 percent coupon rate.

During the September quarter, net profit of Indiabulls Housing Finance rose 1.1 percent to Rs 289.5 crore as against Rs 286.34 crore during the quarter ended September 2021.

The lender’s sales in the September quarter were flat at Rs 2,229.78 crore in as against Rs 2,232.79 crore during the year-ago quarter.

As of September 30, 2022, the consolidated cash and cash equivalents of the company were Rs 3,941.51 crore and the borrowings (other than debt securities) were Rs 30,264.10 crore on the balance sheet.

Shares of Indiabulls Housing Finance gained as much as 10 percent before cooling off. The stock ended 5 percent higher at Rs 144.90.

First Published:Dec 14, 2022 5:19 PM IST