Shares of Indiabulls Real Estate surged as much as 28 per cent in Mondays trade after the company informed bourses that it is looking to reorganise existing business via demerger.
The scrip was trading 26.83 per cent up at Rs 134.25 around 2.13 pm (IST). Shares of the company opened at Rs 108.10 and touched an intraday high and low of Rs 135.90 and Rs 103.65, respectively, in trade so far.
The stock hit seven-year high as its volumes soared to all-time high on Monday.
In a BSE filing, the company said, It considered the possibility of streamlining its existing residential, commercial and leasing businesses by segregating the commercial and leasing business carried on by itself and/or through SPVs and vesting same into Indiabulls Com…
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