Indiabulls Housing Finance logo

IBULHSGFIN - Indiabulls Housing Finance News Story

₹178.5 1.9  1.1%

Last Trade - 8:55am

Sector
Financials
Size
Mid Cap
Market Cap £780.8m
Enterprise Value £6.49bn
Revenue £990.6m
Position in Universe 324th / 3105

BUZZ-Indiabulls Housing Finance surges on report of plans to sell OakNorth stake

Mon 22nd October, 2018 8:41am
** Shares of Indiabulls Housing Finance Ltd  INBF.NS  climb
as much as 13 pct to 738.8 rupees, their biggest intraday pct
gain since May 16, 2014
    ** Co plans to sell all or part of its 18.7 pct stake in
UK-based OakNorth Holdings within a month to a private equity
fund, the Economic Times reported https://economictimes.indiatimes.com/markets/stocks/news/indiabulls-housing-finance-to-sell-stake-in-oaknorth/articleshow/66309888.cms
    ** "This could be a positive for the company, as a deal
could potentially free up capital at a period like this (with
liquidity concerns in the sector)," says Alpesh Mehta, deputy
head of research at Motilal Oswal Securities
    ** A series of defaults at infrastructure financing and
construction major IL&FS have led to a sell-off in many NBFC
stocks and sparked concerns about liquidity  urn:newsml:reuters.com:*:nL4N1WA21K
    ** Indiabulls Housing Finance did not comment on the 
report, while OakNorth could not be immediately reached for
comment
    ** About 21.8 mln shares change hands, compared with the
30-day avg of nearly 8.4 mln shares
    ** Stock down 45.4 pct this year as of last close


 ((Reuters Messaging:
chris.thomas.thomsonreuters.com@reuters.net))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.