0

0

0

0

0

0

0

0

0

This article is more than 2 year old.

Indiabulls Housing Finance shares rise over 7% ahead of first quarter earnings

Mini

Shares of Indiabulls Housing Finance rose over 7 percent intraday on Tuesday ahead of the release of financial results for the quarter ended June 30

Indiabulls Housing Finance shares rise over 7% ahead of first quarter earnings
Shares of Indiabulls Housing Finance rose over 7 percent intraday on Tuesday ahead of the release of financial results for the quarter ended June 30. Shares rose as much as 7.16 percent to Rs 510.90 per share on the NSE, while on the BSE, the stock advanced to a high of Rs 510.25 per share, up 7.06 percent.
At 10:09 am, the stock price was trading at Rs 500 per share, up 4.88 percent from its previous close. Intraday, it increased by 7.16 percent to its day’s high at Rs 510.90. In early morning trade, the stock remained to be the top Nifty50 gainer.
Indiabulls housing finance
The stock fell nearly 7 percent this month and over 41 percent this year. In last one year, it plunged over 63 percent.
As per a CNBC-TV18’s poll, it may be a subdued quarter for Indiabulls Housing Finance as valuations are at multi-year lows and stock is at 52 week low.
The key things to watch out for will be loan growth, which could moderate whereas disbursement and loan growth could get impacted on account of a liquidity crisis.
The off-balance sheet could increase and the on-balance sheet could come down. Loan growth in the last Q4 was at minus 1.4 percent year-on-year.
According to a CNBC-TV18’s poll, on a sequential basis, the net interest income (NII) may decline by 14 percent while net profit, on account lower NII and higher provisions, may decline by 15 percent on a sequential basis.
The stock’s 52-week high is at Rs 1,382.45 and 52-week low is at Rs 457.40.
Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
next story