Indiabulls Housing Finance up on Societe Generale stake purchase, dividend

Sammaan Capital

28/07/2023 09:18

** Shares of Indiabulls Housing Finance  INBF.NS  rise as
much as 9.33% 139.50 rupees, a six-month high
    ** Societe Generale buys 2.78 mln shares of co at avg price
of 127.96 per share, aggregating to 0.59% stake, bulk deal data
on NSE showed
    ** Co also approves final dividend of 1.25 rupees per share
for fiscal 2023 and fund raise via debt up to 350 bln rupees
    ** Stock most active in seven months, with a trading volume
of 41.1 mln shares as of 1:32 p.m. IST - Refinitiv data
    ** Relative strength index rises above 70 in the session,
suggesting the stock may be overbought
    ** Stock down 11% in 2023 so far, compared to 8.19% rise in
Nifty 50  .NSEI  index

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))