Indiabulls Housing Finance falls 6% post Moody’s downgrades; loses 50% in 15 days

Shares of Indiabulls Housing Finance shed more than 6 percent on October 14 after Moody’s had downgraded the company’s rating to B2 from Ba2 with negative outlook.

Recently, the company stocks remained under pressure after the Reserve Bank of India (RBI) has rejected a merger between Lakshmi Vilas Bank and Indiabulls Housing Finance.

At 14:34 hrs, Indiabulls Housing Finance was quoting at Rs 201.40, down Rs 8.55 or 4.07 percent, on the BSE.

The share touched its 52-week high of Rs 976.85 and the 52-week low of Rs 176.60 on October 16, 2018 and October 11 , 2019 respectively.

Currently, it is trading 79.14 percent below its 52-week high and 15.4 percent above its 52-week low.

The share price declined over 50 percent in the last 15 days.

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