Indiabulls Real Estate Down After Changes In The Top Management

Shares of Indiabulls Real Estate Ltd. declined 4.93% to Rs 57.9 apiece in trade on Tuesday after the company appointed president Sachin Chittaranjan Shah as executive director of the company for a tenure of five years, effective Feb. 27, 2023.

Shyamm Mariwala, Javed Faizullah Tapia and Tarana Suresh Lalwani have been appointed as additional independent directors.

The stock fell as much as 6.90% intraday to Rs 56.7 apiece, declining the most since Feb. 14, 2023.

Total traded volume stood at 3.2 times its 30-day average. The relative strength index was at 40.

Most Adani Group Company Stocks Advance In Trade

  • Most Adani Group company stocks advanced in trade on Monday, reversing their early declines.
  • Benchmark NSE Nifty 50, which was trading higher by 0.16%.
  • Adani Total Gas Ltd., Adani Green Energy Ltd., Adani Transmission were trading lower amidst all the group company stocks.
  • Adani Enterprises Ltd., on the other hand, advanced nearly 5% in trade.

Source: Exchange filing

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