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BUZZ-Indiabulls Real Estate jumps to over 6-yr high on restructuring plans
April 17, 2017 / 9:16 AM / 8 months ago

BUZZ-Indiabulls Real Estate jumps to over 6-yr high on restructuring plans

** Shares of Indiabulls Real Estate Ltd soar as much as 42.7 pct to highest since November 2010

** Company says board considering streamlining of existing residential, commercial, and leasing businesses (bit.ly/2ohqPAz)

** Says to either consider placing Indiabulls Commercial Assets Ltd as a separate holding company for commercial and leasing business segment, or reorganizing existing businesses via demerger

** Adds no scheme of arrangement or proposal currently pending before board for approval

** More than 170 mln shares traded, nearly 18 times their 30-day moving avg

** Stock had risen about 49 pct this year up to Thursday’s close

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