Indiabulls firms rebound a day after slumping on reports of regulatory raids

Sammaan Capital

22/02/2022 06:38

** Shares of Indiabulls group companies Indiabulls Housing
Finance Ltd  INBF.NS  and Indiabulls Real Estate Ltd  INRL.NS 
gain as much as 4.6% and 13.4%, respectively       
    ** Shares of INBF and INRL rebound after slumping as much as
9.9% and 14.9% on Monday
    ** Several local media reports said on Monday India's
financial crime fighting agency, the Enforecement Directorate
(ED), conducted searches at Indiabulls offices in Delhi and
Mumbai
    ** INBF said https://bit.ly/3h5h8CE late on Monday the ED
has sought some information from it regarding the case it had
lodged in April 2021 against the company and promoter Sameer
Gehlaut over alleged siphoning of money
    ** INRL said https://bit.ly/3H8ZJU5 the ED investigation did
not pertain to it
    ** INBF stock down 1% in 2021, while INRL added 91.8% 


 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))