Despite the declining 366 points in the Sensex Strength in Indiabulls Real Estate share price
At around 11.30, the Sensex is showing a decline of 366 points, while the shares of Indiabulls Real Estate share price are more than 1% stronger.
Actually Indiabulls Real Estate has sold 50% stake in its two office properties in Gururgram. The company has made a deal worth Rs 464 crore for selling stake in office property with Blackstone, a private equity firm. From the same news, the company’s shares seem to be getting support.
In November, Indiabulls had announced a deal to sell the nearly 8 lakh square feet lease area.
Now the deal is expected to be completed in December itself.
Let us know that earlier this year, Indiabulls had sold 50% stake in Blackstone for Rs 9,500 crore in two of its two major commercial properties in Mumbai.
Meanwhile, the shares of Indiabulls Real Estate in the BSE today rose to Rs 95.50 from the previous closing level of Rs 91.85 and opened at Rs 94.40. After this there was a slight drop in the stock, but it remained in green mark. At around 1200, the company’s shares are trading at Rs 92.90 with a gain of 1.05 rupees or 1.14%. The company’s market capitalization at this price is Rs 4,186.82 crore.