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Home / Business News / Credit Suisse buys Indiabulls Housing Finance shares worth Rs 72 crore

Credit Suisse buys Indiabulls Housing Finance shares worth Rs 72 crore

According to the bulk deal data on the National Stock Exchange (NSE) Credit Suisse (Singapore) Limited bought 22,36,394 shares at an average price of Rs 323.23 apiece.

business Updated: Jan 25, 2020 15:09 IST
HT Correspondent
HT Correspondent
Hindustan Times, New Delhi
Shares of Indiabulls Housing Finance on Friday ended 3.08 per cent higher at Rs 321.70 on the NSE.
Shares of Indiabulls Housing Finance on Friday ended 3.08 per cent higher at Rs 321.70 on the NSE.(Bloomberg file photo)

Credit Suisse (Singapore) Ltd has purchased shares of Indiabulls Housing Finance Ltd worth over Rs 72 crore through an open market transaction.

According to the bulk deal data on the National Stock Exchange (NSE) Credit Suisse (Singapore) Limited bought 22,36,394 shares at an average price of Rs 323.23 apiece.

The shares purchased by Credit Suisse are 0.52 per cent of total Indiabulls Housing Finance shares. The total deal value is Rs 72.29 crore. The seller, however, could not be ascertained.

Shares of Indiabulls Housing Finance on Friday ended 3.08 per cent higher at Rs 321.70 on the NSE.

Indiabulls Group flagship Indiabulls Housing Finance Ltd is the country’s second largest housing finance company and is regulated by the National Housing Bank (NHB). The company is rated ‘AAA’ by CRISIL, ICRA and other leading rating agencies.

Indiabulls Housing Finance reported over 32 per cent decline in its consolidated net profit in the second quarter ended September 30. It had posted a net profit of Rs 702.18 crore in the quarter compared to Rs 1,034.92 crore in the quarter before.

Indiabulls Housing Finance is expected to announce its third quarter result, October to December 2019, soon.

Founded in 1856, Credit Suisse Group is a leading financial services company that advises clients in all aspects of finance, across the globe. They serve clients through three regionally focused divisions - Swiss Universal Bank, International Wealth Management and Asia Pacific.