Indiabulls Real Estate hit a 52-week high of Rs 111, up 5% on BSE in early morning trade after the real estate developer said it will restructure the real estate business by demerging commercial and residential into separate companies.
At 09:27 am; the stock was trading 2.6% higher at Rs 109, after hitting a low of Rs 104 in intra-day trade. The counter has seen huge trading volumes with a combined 10.98 million shares changed hands in first 12 minutes of trade on NSE and BSE.
In the past five trading days, the stock rallied 25% as compared to 1% decline in the S&P BSE Sensex.
The Company’s board in its meeting today considered the possibility of streamlining its existing residentia…
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