Shares of Indiabulls Housing Finance (IBHFL) extended its yesterday’s rally after the Ministry of Corporate Affairs (MCA) has informed the Delhi HC that it is examining the inspection reports of Indiabulls Housing Finance and Indiabulls Venture and did not find an irregularity in loans given to the five companies as alleged by a PIL.
The stock is among the top gainers on the Nifty Financial index, up with 11.4% on Friday’s session.
The Nifty Financial services index is down with 0.55% at 14,209 levels. ICICI Bank, Kotak Mahindra Bank, SBI Life and HDFC were the top losers on the Financial index.
Stock view:
Indiabulls Housing Finance Ltd is currently trading at Rs374.40, up by Rs40.2 or 12.03% from its previous closing of Rs334.20 on the BSE.
The scrip opened at Rs357 and has touched a high and low of Rs376.80 and Rs350.60 respectively.
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