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IBULHSGFIN - Indiabulls Housing Finance News Story

₹178.5 1.9  1.1%

Last Trade - 8:55am

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
    ** "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*:nL4N1WA21K
    ** Indiabulls Housing Finance did not comment on the 
report, while OakNorth could not be immediately reached for
    ** 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

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