Share of Indiabulls Real Estate jumped over 12% on Tuesday after the company posted robust earnings for the December quarter.
The real estate firm reported a 64% YoY rise in net profit at Rs 80.69 crore against Rs 49.27 crore in the year-ago period. However, the company's revenue from operations fell 41% to Rs 721.67 crore during the quarter under review against Rs 1,232 crore in the same quarter last year.
Reversing from losses, Indiabulls Real Estate share opened with a gain of 6.25% to Rs 83 against the previous close of Rs 81.10 and later climbed 12.55% to hit the day's high of Rs 87.90 on BSE. The stock also hit an intraday low of Rs 81.10. The stock has gained after 2 days of consecutive fall.
Meanwhile, the real estate sector index on BSE was up 3.6%, in line with broader indices Sensex and Nifty that closed higher by 1.7% today.
Indiabulls Real Estate stock is trading higher than 5, 20, 50, 100 and 200-day moving averages. The stock price closed 11.65% higher at Rs 87.20 on BSE.
Indiabulls Real Estate stock price has risen 2% last week and over 19% in one month. Year-to-date, the stock has gained over 6%.
Market capitalisation of the firm stood at Rs 3,964.67 crore as of today's session. The stock has touched a 52-week high of Rs 113 and a 52-week low of Rs 36.85. Share of the real estate company with Rs 2 face value has fallen 15% in one year.
During the quarter, Indiabulls Real Estate clocked new sales worth Rs 990 crore and gross collections stood at Rs 1,003 crore.