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Indiabulls Fin rises after results

October 22, 2010

INDIA-BUDGET/

Shares of Indiabulls Financial Services rose more than 11 percent to a 52-week high after the company said its net profit for the September quarter more than doubled.

Indiabulls Financial Services’ net profit more than doubled to 1,726.8 million rupees in June-Sept quarter from 711.3 million rupees a year ago. The company is likely to post a compounded annual growth rate (GAGR) of 25 percent over three years, its top official said.

Shares of the company ended 11.2 percent higher at 210 rupees with volumes of 4.3 million.

For the year the counter has posted gains of over 60 percent. Do you think it is the right time to invest in the stock?

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