Buzzing stock: Indiabulls Real Estate removed from F&O ban

Exchange has lifted the F&O ban on stock of Indiabulls Real Estate on Thursday. Last week, Indiabulls and some other stocks came under the F&O ban by the Exchange.

The criteria to ban securities is when a company’s derivative contracts cross 95 percent of the market wide position limit , exceeding all combined open interest in F&O contract for the month.

Indiabulls stock was trading at Rs 89.5 level in April 2017. Since then the stock has shown a huge upside of 150 percent and currently is trading in the range of Rs 225-230.

On Wednesday, stock had closed at Rs 224. It opened at 227.95 and surged by 7.7 percent by making a new 52-week high of Rs 244.50 in the morning session.

For Q1FY18, company’s revenue increased by 146.4 percent while net profit rose by 153.5 percent on QoQ basis. The company is planning to raise up to Rs 7,500 crore through issue of debentures on private placement basis.

Indiabulls Real Estate Ltd. is a holding company engaged in real estate project advisory, investment advisory, project marketing and maintenance of completed projects, engineering and other allied activities.