Indiabulls Housing Finance share price gains 26.3% in the last five sessions; should you buy?
Indiabulls Housing Finance share price has risen 26.3% in the last five trading sessions after the company has repaid ₹1,112.5 crores of bonds this week. On Wednesday's session, Indiabulls Housing shares closed at ₹193.25 apiece on BSE, up 2.52%. In August, Indiabulls Housing Finance stock price surged nearly 35%, which is the largest monthly gain since June 2020.
However, the majority of the gains came in the last five trading sessions on the back of repayment of debt. So far in 2023, Indiabulls Housing Finance stock price has gained 25%, after the stock consistently underperformed the market from 2018 to 2022. Indiabulls Housing shares gained 110.57% from 52-week low 91.8 recorded on March 29, 2023.
On Monday, August 28, the company in its filing stated that it has repaid bonds worth ₹1,112.5 crore, which was availed in August 2013. “Debt repayments of the 10-year monies repaid today and the five-year ECBs repaid last week, coincided to make this quarter [Q2FY2023-24] relatively large in terms of debt servicing. As mentioned in our earnings call as well as last week’s exchange filing, from here onwards we enter a phase of positive ALM where loan portfolio inflows will exceed debt repayments by ₹1,300 crore to ₹1,800 crore a quarter, all of which will be available for asset growth," said the company in the filing.
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