Bulk Deals: Rakesh Jhunjhunwala Buys Stake In This HFC After Rare Enterprises Sells Stake

As per the bulk deals data, ace investor Rakesh Jhunjhunwala has bought 35,00,000 equity shares of Indiabulls Housing Finance today (January 20, 2022) via an open market transaction from RARE Enterprises at Rs 219 per share on the NSE. RARE Enterprises is also backed by the billionaire investor.

Bulk Deals: Rakesh Jhunjhunwala Buys Stake In This HFC After Rare Enterprises Sells Stake

A deal where the overall quantity of shares bought or sold is more than 0.5 per cent of the share capital of the company is called bulk deal. It can be transacted either via the normal trading window or through the block trading window.

Shares of Indiabulls Housing last closed flat at Rs. 218.8.

Headline indices on weak global cues tumbled for the 3rd consecutive day. "Nifty50 breached its 50 EMA and touched 17648 levels. The last hour of the session witnessed some smart recovery but finally it closed with losses of around 180 points," Chandan Taparia, Vice President, Derivatives Motilal Oswal Financial Services said.

He further added, "The index formed a Bearish candle on daily scale and has been forming lower lows from the last three sessions. Now till it remains below 17850 zones, weakness could be seen towards 17650 and 17500 whereas hurdles exists at 17950 and 18081 marks."

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