Monday, April 15News That Matters

Morgan Stanley picks up 0.6% stake in Indiabulls Real


Morgan Stanley Asia (Singapore) Pte has picked up 0.61 percent equity stake in Indiabulls Real Estate (IBEL) on Friday.

The firm has bought 26,16,156 equity shares at Rs 76.21 per share through block deal on NSEĀ  that was worth Rs 20 crore.

Meanwhile, IndiaBulls RealEstateĀ  reported 20% fall in consolidated net profit at Rs 41.67 crore for the quarter ended March 31 on lower revenue.
Revenue slipped over 20% year-on-year to Rs 327.60 crore during the quarter.

On Friday, the stock closed at Rs 78.20, up 18.84 %.

Market capitalisation of the company currently stands at Rs 3,315.76 crore.

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