Shares of Indiabulls Ventures and Indiabulls Real Estate rallied on Wednesday on share buyback plans. On the BSE, Indiabulls Ventures stock hit its upper price level at Rs 109.85 during the day and settled at Rs 109.10, up 9.21 per cent from the previous close.
Similarly, on the NSE, the stock jumped to its upper circuit level at Rs 110.10 and closed at the same price, up 9.99 per cent over the previous close.
Indiabulls Real Estate stock too settled at its upper circuit level at Rs 43.10, up 4.99 per cent from the previous close on the BSE.
On the NSE as well, the scrip was trading at its upper price limit at Rs 43.05 and settled at the same price, up 5 per cent from its previous close.
"A meeting of the board of directors of the company will be held on Friday, October 11, 2019, to consider, inter alia, the proposal of buy-back of equity shares of the company," both companies said in separate but similarly worded BSE filings on Tuesday.