IB Real Estate gains as BoA-ML upgrades stock

Indiabulls Real Estate, one of the largest real estate companies in India,gained over 1%after Bank of America Merrill Lynch upgraded the company to 'buy' from 'neutral'.It also raised its target price to Rs 100 from Rs 69. Shares ofthe company are trading at Rs 74.35, up Rs 0.95, or 1.29% at the Bombay Stock Exchange (BSE) on Wednesday at 12:20 p.m.In the earlier session, the shares fell 4.74%, or Rs 3.65, at Rs 73.40.

The scrip has touched an intra-day high of Rs 75.45 and low of Rs 73.85. The total volume of shares traded at the BSE is 507,971.

Currently, the stock is trading down 11.74% from its 52-week high of Rs 83.90 and above 77.37% over the 52-week low of Rs 41.75.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 75.70 (2.30) (3.04) 1 Month 74.80 (1.40) (1.87) 3 Months 60.45 12.95 21.42 6 Months 54.75 18.65 34.06 1 Year 71.05 2.35 3.31 Note: Based on previous day closing price.