Indiabulls Real Estate jumps 16 pc after Jhunjhunwala's Rare Enterprises buys stake

The stock of Indiabulls Real Estate on Friday zoomed nearly 16 per cent in early trade after ace investor Rakesh Jhunjhunwala's Rare Enterprises acquired the company's shares through an open market transaction. Rare Enterprises bought 50 lakh scrips of the company at an average price of Rs 57.73 apiece, as per NSE's bulk deal data on Thursday. This took the total deal value to Rs 28.86 crore..

The stock of Indiabulls Real Estate on Friday zoomed nearly 16 per cent in early trade after ace investor Rakesh Jhunjhunwala's Rare Enterprises acquired the company's shares through an open market transaction. Following the move, the stock jumped 15.68 per cent to Rs 63.80 on the BSE.

It gained 15.97 per cent to Rs 63.90 on the NSE. Rare Enterprises bought 50 lakh scrips of the company at an average price of Rs 57.73 apiece, as per NSE's bulk deal data on Thursday.

This took the total deal value to Rs 28.86 crore..