The rating committee of ICRA has revised the long-term rating of Indiabulls Housing Finance Limited to "ICRA AA" with Stable outlook. The short-term rating has been reaffirmed at "ICRA A1+".
In revising the rating ICRA cited challenges faced by the company in mobilizing long term resources following the situation for non-banks since September, 2018, and the resulting weakening of its market position as a leading financier to the housing sector on an incremental disbursement basis.
Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.338.3 as compared to the previous close of Rs. 305.3. The total number of shares traded during the day was 3904032 in over 47950 trades.
The stock hit an intraday high of Rs. 359.6 and intraday low of 301.65. The net turnover during the day was Rs. 1322659874.