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Indiabulls Financial shares slump after block deals

Source : REUTERS
Last Updated: Fri, Feb 08, 2013 06:15 hrs
A trader looks at a screen at a stock brokerage firm in Mumbai

MUMBAI (Reuters) - Shares In Indiabulls Financial Services slumped as mush as 7.2 percent on Friday after 21.9 million shares changed hands at an average price of around 284.03 rupees in more than a dozen block deals on both National Stock Exchange and BSE.

On Thursday Indiabulls launched a share sale for institutional investors to raise up to 4.48 billion rupees, according to a term sheet obtained by Reuters.

At 11:20 a.m., shares were down 4.7 percent.

(Reporting by Manoj Dharra; Editing by Rafael Nam)




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