Indiabulls Housing Finance shares surge 10%
Indiabulls Housing Finance shares surged 10.30% on September 13, 2023, to Rs 185.25 on the BSE, after 22.5 lakh shares of the company changed hands in a transaction worth Rs 40.8 crore.
The stock had closed 9.12% down in the previous session. The number of shares exchanged amount to 0.5% of the total equity. The buyers and sellers could not be immediately ascertained.
The sharp rise in the stock price was supported by the company’s recent financial performance. Indiabulls Housing Finance reported a consolidated profit of Rs 296.2 crore for the first quarter of FY24, rising 3.3% over the previous fiscal. However, its net interest income fell 5.8% to Rs 546.5 crore.
The company also said that it is relinquishing the ‘Indiabulls’ brand after its former promoter Sameer Gehlaut has been classified as a public shareholder.
Shares of the company are up 19% on a year-to-date basis, while the one-year return stands at 36%. It is still 12% down from its 52-week high of Rs 207.80, hit on August 31, 2023.
- Indiabulls Housing Finance shares surged 10.30% on September 13, 2023.
- The sharp rise in the stock price was supported by the company’s recent financial performance and the relinquishing of the ‘Indiabulls’ brand.
- Shares of the company are up 19% on a year-to-date basis, while the one-year return stands at 36
- 22 Sep
NBCC shares trade higher on Rs 100 crore work order from SAIL
NBCC shares were trading 3 percent higher on September 22 after the company announced having bagged a work order worth Rs 100 crore from SAIL. This is the fourth order-win announced by the company in this month, the total value of the same being Rs 450 crore. NBCC is a public sector undertaking engaged in the business of construction and real estate development. The company specializes in providing project management, consultancy and engineering services for civil construction, infrastructure development, and real estate projects.
- 22 Sep
Glenmark Pharma stock falls on stake sale in Glenmark Life Sciences
Glenmark Pharma stock fell after the company announced it would sell a 75% stake in its subsidiary Glenmark Life Sciences to Nirma. Analysts expect the stake sale to benefit Glenmark Pharma, as it will transition from a net debt position to a cash surplus position. This is expected to have a positive impact on the company's return ratios over the next two to three years.
- 22 Sep
Berger Paints Shares Hit 52-Week High After Turning Ex-Bonus
Berger Paints shares surged 6% to hit a 52-week high after turning ex-bonus on the record date for the issue of bonus shares in the ratio 1:5. The company posted a net profit of Rs 326.3 crore in the April-June quarter of FY24, up 39% year-on-year, on revenue of Rs 2,739.7 crore, up 10% year-on-year. The company expects to get net cash positive by the end of this fiscal year and expects to end the year with double-digit revenue growth on strong demand outlook.
- 22 Sep
Market Update for September 22, 2023
IdeaForge Tech up 3.4% on order RVNL up 3% on highway MoU JSW Steel up 0.4% on sale ICICI Lombard down 1.6% on CEO exit ICICI Bank down 1% on healthcare investment NHPC up 1.3% on extended additional charge Kalyani Forge up 3.2% on new MD IRB Infra up 2.5% on road project closure
- 22 Sep
Lux Industries Shares Down 3% After Income Tax Raid
Lux Industries shares fell 3% on September 22 after news emerged that the Income Tax department had conducted searches at the company's premises in Kolkata and alleged a tax evasion of Rs 200 crore. The company has confirmed the searches and is extending full support.