Indiabulls housing finance share falls 9pc over alleged pil against firm, promoters.

Position:Public Interest Litigation

The share price of Indiabulls Housing Finance fell to a fresh 52-week low on BSE after the company issued a clarification regarding the petition filed against the company and its promoters.

Indiabulls Housing Finance submitted a regulatory filing related to media reports suggesting a 'PIL against the company and its Promoter in Delhi High Court'.

The IBHFL stock opened 6.07percent lower at Rs 420.70 against the previous close of Rs 447 on BSE. Later, the stock fell over 9.31percent to an intraday low of Rs 406.2, also its fresh 52-week low on BSE. The lower price band of 10percent circuit for the stock stands at Rs 403.15. Indiabulls Housing share price is trading lower than 5, 20, 50, 100 and 200-day moving averages.

Overall 11.6 lakh shares and 173.5 lakh shares changed hands on BSE and NSE, respectively. There were more sellers offering than buyers bidding for the stock...

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