Indiabulls Real Estate tumbles as MD steps down

Embassy Developments

28/02/2023 07:58

** Shares of Indiabulls Real Estate Ltd  INRL.NS  fall as
much as 6.90%, their steepest intraday decline in two weeks, to
56.70 rupees
    ** INRL is top loser on Realty index  .NIFTYREAL , which is
up 0.77%
    ** Fall comes after managing director Mehul Johnson resigns,
citing personal reasons
    ** Johnson will continue as non-executive, non-independent
director of INRL till March 31 
    ** Trading volume is 11.72 mln shares as of 1:18 p.m. IST,
nearly 1.5x 30-day avg of 8.19 mln shares - Refinitiv data


 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))