October 16, 2018 / 4:22 AM / a month ago

BUZZ-Indiabulls Housing Finance rises on strong Q2 results

** Mortgage lender Indiabulls Housing Finance Ltd’s shares rise as much as 3 pct to 976.8 rupees

** Co posted 21.5 pct rise in Sept qtr profit of 10.44 bln rupees ($141.28 mln) on Monday

** Motilal Oswal says strong relationships with banks, mutual funds and other entities, coupled with its AAA-rating, should enable co to sail through these tough times of tight liquidity

** While management has guided to 20 pct assets under management (AUM) growth in FY19, Motilal Oswal estimates 16 pct given the fact that AUM has grown only 5 pct over Mar-Sep 2018

** More than 2.6 shares change hands, 0.4 times their 30-day moving avg of about 6.3 mln shares

** Stock down about 20 pct this year as of last close ($1 = 73.8950 Indian rupees)

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