Indiabulls Real Estate rallies on share buyback speculation: report

Indiabulls Real Estate rallies on share buyback speculation: report

Shares in Indiabulls Real Estate gained as much as 5.7 per cent on widespread market speculation that the company was considering a share buyback, according to traders.

Traders cited speculation that Indiabulls plans to buy back Rs 800 crore worth of shares. An Indiabulls executive did not confirm or deny the speculation.

"All measures to protect shareholder value are on the table subject to regulatory and board approval," said Ajit Mittal, group executive director, Indiabulls Group.

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