Indiabulls Real Estate, one of the largest
real estate company in India, gained on Wednesday after the
reporting better-than-expected results.On Tuesday, the company
reportedprofit stood at Rs 522 million for third quarter of current
financial year, up by 24.88% from Rs 418million in the same period
last year. While total incomedroppedto Rs 3.51 billion in Dec. 31,
2012 compared to Rs 3.77billion for the same quarter previous
year.
Global investment firm JP Morgan said they are overweight on the
stock with a target price of Rs 110. 
Shares ofthe companyare trading at Rs
78.35, up Rs 1.9, or 2.49% at the Bombay Stock Exchange (BSE) on
Wednesday at 11:49 a.m.The scrip has touched an intra-day high of
Rs 79.05 and low of Rs 77.30. The total volume of shares traded at
the BSE is 673,776.In the earlier session, the shares lost 4.5%, or
Rs 3.6, at Rs 76.45. Currently, the stock is trading down 6.62%
from its 52-week high of Rs 83.90 and above 87.66% over the 52-week
low of Rs 41.75.
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