Shares of Indiabulls Housing Finance today hit near 15-week high on upbeat June-quarter results. The stock jumped as much as 6.7 per cent to Rs 1,385, highest since April 23.
The company had reported a more than 30 per cent rise in June-quarter profit after market hours on Thursday.
Motilal Oswal says focus on core mortgage loans and market share gains should drive AUM growth of over 25 per cent over next three years, with asset quality trend likely to remain stable.
The stock was the top percentage gainer on broader NSE index. More than 2.3 million shares changed hands, compared with 30-day average of 1.5 million shares. The stock had gained 8.5 per cent this year as of last close, compared with a 6.8 per cent gain in the NSE index.