October 24, 2017 / 4:09 AM / a month ago

BUZZ-Indiabulls Housing Finance shares rise as Q2 profit surges

** Indiabulls Housing Finance’s shares rise as much as 2.1 pct to 1,365.50 rupees; stock among top pct gainers on NSE index

** Q2 profit jumps nearly 26 pct to 8.61 bln rupees ($132.43 million) while non-performing assets (NPAs) fell to lowest level in 20 qtrs; gross NPA at 0.78 pct, co said on Monday bit.ly/2yNsaHu

** At least two brokerages raised their PT on stock after co’s strong Sept-qtr results

** “Bullish management commentary backed up by 33 pct YoY AUM growth (and even better 43 pct YoY for pure home loans) suggests that IHFL is aggressively grabbing market share,” Macquarie analysts said

** Assets under management and margin outcomes better than expectation, Nomura analysts wrote in a note

** Out of 13 analysts covering the stock, eight have rated it as ‘buy’ or higher while the rest have a ‘hold’ rating ($1 = 65.0175 Indian rupees)

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