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Indiabulls Real Estate touches 52W high on restructuring plans

Loknath Das April 17, 2017 Real Estate Comments Off on Indiabulls Real Estate touches 52W high on restructuring plans
Indiabulls Real Estate touches 52W high on restructuring plans

India’s third largest real estate company, Indiabulls Real Estate’s board is planning to do some restructuring in its business.

The board of the company considered the possibility of streamlining the company’s existing ‘residential’, ‘commercial’ and ‘leasing’ businesses by segregating the ‘commercial and leasing’ business segment.

The company has two options to restructure its business. One is to do the restructuring the businesses by way of placing ‘Indiabulls Commercial Assets Limited’ as a separate holding company under the Company to hold the assets and investments relating to the ‘commercial and leasing business segment. Other options are by reorganising the existing businesses by way of a demerger of the company, on a going concern basis, of the undertakings, business, activities and operations pertaining to its commercial and leasing business segment.

The company’s board will be working on the feasibility of each option of restructuring to come up with the most suitable restructuring plan.

The restructuring at the company would help it to concentrate on the key business segments individually. This will also help the company to improve its competitive advantage in the real estate sector in the country.

The Indiabulls Real Estate stock has been rallying since the opening bell on Monday. The stock touched its fresh 52-week high of Rs 118.50 per share gaining nearly 12% against its previous close. The stock’s traded volume stands at 5,58,98,894 shares and traded value stands at Rs 629.14 cr as of 1051 hours in Monday’s trade.

Stock View:

Indiabulls Real Estate Ltd is currently trading at Rs 119.6, up by Rs 13.75 or 12.99% from its previous closing of Rs 105.85 on the BSE.

The scrip opened at Rs 108.1 and has touched a high and low of Rs 120.2 and Rs 103.65 respectively. So far 69160916(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 5064.02 crore.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 108.15 on 13-Apr-2017 and a 52 week low of Rs 54.1 on 18-Apr-2016. Last one week high and low of the scrip stood at Rs 108.15 and Rs 86.8 respectively.

The promoters holding in the company stood at 50.3 % while Institutions and Non-Institutions held 21.49 % and 28.12 % respectively.

The stock is currently trading above its 50 DMA.

[Source:-IIFL]

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