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Steep rise in Indiabulls Real Estate stock, jumps 7pc

Shares of Indiabulls Real Estate Ltd surged stupendously over 7pc in the mid-market trade, Thursday, extending its gains to the second consecutive day. 

The stock registered a stellar gain of 10pc on Wednesday after the real estate major said it will sell its property in London to promoters for Rs1,800cr, approx, as part of its strategy to focus on its India biz and reduce debt. 

Meantime, Nifty Realty index went up 0.83pc with IndiaBulls Real Estate at the top. During mid-market trade, Indiabulls Real Estate share price quoted at Rs.124.75per share up by Rs8.85 or 7.64-percent. Meantime, the BSE Sensex quoted at 39,160-level up by 105points and the Nifty at 11,768-level up 42points at 1.15pm, Thursday.