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ક્રેડિટ સૂઇસ ઇન્ડિયાબુલ્સ હાઉસિંગ ફાઇનાન્સ – મનીકોન્ટ્રોલ ડોટ કોમના 40 લાખથી વધુ શેર વેચે છે

ક્રેડિટ સૂઇસ ઇન્ડિયાબુલ્સ હાઉસિંગ ફાઇનાન્સ – મનીકોન્ટ્રોલ ડોટ કોમના 40 લાખથી વધુ શેર વેચે છે

Translating…

Credit Suisse Singapore sold 40,21,973 shares of Indiabulls Housing Finance in a bulk deal on NSE on February 6, data available with the exchange showed.

The deal was carried out at an average price of Rs 316 per share, taking the cumulative value of the transaction to Rs 127.1 crore.

The counter witnessed as many as 9 bulk deals on NSE on February 6 as traders and investors bought and sold in this counter after the RBI announced measures that are positive for the lending firms.

Bulk Deals

Besides, with as many as 10,36,11,027 shares changing hands for Rs 3,131.64 crore, the stock ended as the most traded stock in terms of value on NSE.

The stock closed the day with a strong gain of 15.56 percent at Rs 319.75 on NSE.

The Reserve Bank of India (RBI) has permitted an extension of the timeline for commercial real estate projects.

The central bank said that the extension of Date of Commencement of Commercial Operations (DCCO) of project loans for commercial real estate will be permitted to be extended by a year without downgrading asset classification.

Sharing his views on the above development, Gagan Banga, Vice-Chairman and Managing Director of Indiabulls Housing Finance, said: “It is an extremely positive step. It does two things – one it is extremely important that more and more money goes into the project. It will hasten the process of both home and office delivery. The other thing it does is that the government of India has – through a spate of measures – already demonstrated that it is firmly behind the real estate sector.”

“Now with this latest move of the RBI, real estate – which is often seen as not only a cyclical but a very sensitive sector – is seeing both the RBI and government backing it. That from a sentimental change perspective is extremely important. Both sentimentally, and from a financial flow, this is a very positive step,” he said.

The company on February 5 reported a 44 percent decline in its consolidated net profit to Rs 546.87 crore in the third quarter ended December 31, due to a fall in income. It had registered a net profit of Rs 972.82 crore in the corresponding October-December quarter of the previous fiscal.

The company’s total income in the December 2019 quarter fell to Rs 3,369.76 crore as against Rs 4,477.97 crore a year ago, it said in a regulatory filing.

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