Indiabulls Real Estate jumps over 9 pc after Jhunjhunwala's Rare Enterprises buys stake

The stock of Indiabulls Real Estate on Friday closed with over 9 per cent gain after ace investor Rakesh Jhunjhunwala's Rare Enterprises acquired the company's shares through an open market transaction. It zoomed 9.35 per cent to settle at Rs 60.25 on NSE. In volume terms, 20.45 lakh shares were traded on BSE and over 2.73 crore on NSE.

The stock of Indiabulls Real Estate on Friday closed with over 9 per cent gain 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 BSE during the day. Finally, it closed the day at Rs 60.15, a gain of 9.07 per cent. It zoomed 9.35 per cent to settle at Rs 60.25 on NSE.

In volume terms, 20.45 lakh shares were traded on BSE and over 2.73 crore on 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.