Indiabulls Enterprises Ltd shares surged 4.97% to hit the upper circuit at ₹21.74 during early trading hours on January 22, 2025, following the announcement of a significant real estate development project in Ludhiana, Punjab.
Key Highlights:
- Project Details: Indiabulls Enterprises, through its wholly owned subsidiary, has entered into a Memorandum of Understanding (MoU) with landowners to develop a 24.5-acre real estate project in Ludhiana.
- Development Plan: The project will include group housing and commercial spaces, with an estimated saleable area of 43.20 lakh sq. ft.
- Revenue Expectations: The company anticipates generating ₹3,500 crore in revenue from the project over the coming years.
- Timeline: The project is in the planning phase, with RERA registration and other approvals expected by FY 2025-26.
Share Price Performance:
Indiabulls Enterprises shares closed at ₹20.21 on January 20, marking a 4.26% gain. The stock has shown consistent upward movement over the past few sessions, driven by positive developments in its business outlook.
Recent Share Price History:
| Date | Open | Close | Change % |
|---|---|---|---|
| Jan 20, 2025 | ₹19.50 | ₹20.21 | +4.99% |
| Jan 17, 2025 | ₹19.20 | ₹19.25 | +0.52% |
| Jan 16, 2025 | ₹19.05 | ₹19.15 | +0.58% |
| Jan 15, 2025 | ₹19.08 | ₹19.04 | +1.76% |
Outlook:
The Ludhiana project marks a significant step in Indiabulls Enterprises’ strategic expansion into high-growth real estate markets. With strong revenue potential, the project has boosted investor confidence, as evidenced by the stock’s performance.
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