K P R Mill Ltd, Bharat Petroleum Corporation Ltd, Strides Pharma Science Ltd and Piramal Enterprises Ltd are among the other losers in the BSE's 'A' group today, 17 November 2020.

Indiabulls Real Estate Ltd lost 5.05% to Rs 60.15 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 10.1 lakh shares were traded on the counter so far as against the average daily volumes of 3.18 lakh shares in the past one month.

K P R Mill Ltd crashed 5.05% to Rs 789.3. The stock was the second biggest loser in 'A' group.On the BSE, 6716 shares were traded on the counter so far as against the average daily volumes of 8794 shares in the past one month.

Bharat Petroleum Corporation Ltd tumbled 4.41% to Rs 394.5. The stock was the third biggest loser in 'A' group.On the BSE, 6.48 lakh shares were traded on the counter so far as against the average daily volumes of 3.51 lakh shares in the past one month.

Strides Pharma Science Ltd dropped 3.57% to Rs 667.9. The stock was the fourth biggest loser in 'A' group.On the BSE, 31084 shares were traded on the counter so far as against the average daily volumes of 41271 shares in the past one month.

Piramal Enterprises Ltd slipped 3.51% to Rs 1403.35. The stock was the fifth biggest loser in 'A' group.On the BSE, 23268 shares were traded on the counter so far as against the average daily volumes of 42780 shares in the past one month.

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Net sales during the quarter slumped 98.1% year-on-year (YoY) to Rs 20.15 crore.

The company reported a pre-tax loss of Rs 77.82 crore in Q2 September 2020 as against a pre-tax profit of Rs 365.94 crore in Q2 September 2019.

Current tax outgo was Rs 0.69 crore in Q2 FY21 as compared to Rs 0.19 crore in Q2 FY20.

The company stated that affordability of real estate is at a multi-year high with declining interest rates (nearing a 'psychological' low 7% handle), and flat property prices. The firm is now seeing very high demand for completed products, and expects very robust collection for the rest of the year.

Meanwhile, Indiabulls Real Estate said that the proposed scheme of amalgamation of NAM Estates & Embassy One Commercial Property Developments into the company had been filed with SEBI/Stock Exchanges for their approval.

“Entities controlled by the Blackstone Group Inc have signed definitive documents for their participation in the merger,” it added.

On 18 August 2020, the company said that it entered into a definitive agreement with NAM Estates and Embassy One Commercial Property Developments, both Embassy group entities, to merge their residential and commercial projects across markets.

Following the merger being effected, the resultant listed entity shall be owned 44.9% by Embassy Group, 26.2% by the existing public & institutional shareholders, 9.8% by existing IBREL Promoter Group and 19.1% by BREP & other Embassy institutional investors.

Separately, Indiabulls Real Estate said that it raised Rs 50 crore by allotting secured redeemable non-convertible debentures (NCDs) bearing a coupon rate of 10.50% p.a. on a private placement basis. The interest is payable on maturity and the redemption date of the NCDs is 12 November 2021.

On Thursday, 12 November 2020, Rakesh Jhunjhunwala's Rare Enterprises bought 50 lakh shares, or 1.09% equity, of Indiabulls Real Estate through a bulk deal on the NSE at an average price of Rs 57.73.

Morgan Stanley Asia (Singapore) sold 75.80 lakh shares of the company at an average price of Rs 57.16 on the same day. It held 3.70% stake or 1.67 crore shares of Indiabulls Real Estate as on 30 September 2020.

On Friday, 13 November 2020, Morgan Stanley Asia (Singapore) further sold 47.79 lakh shares of the company at an average price of Rs 60.36 per share on the NSE.

Indiabulls Real Estate is engaged in the development of real estate projects and allied activities.

Shares of the real estate developer spurted 6.07% to 63.80 in the one-hour special Muhurat trading session on the occasion of Diwali on 14 November 2020.

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Net loss of Indiabulls Real Estate reported to Rs 76.14 crore in the quarter ended September 2020 as against net profit of Rs 301.17 crore during the previous quarter ended September 2019. Sales declined 98.14% to Rs 20.15 crore in the quarter ended September 2020 as against Rs 1085.65 crore during the previous quarter ended September 2019.

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Net Loss of Indiabulls Real Estate reported to Rs 32.59 crore in the quarter ended September 2020 as against net loss of Rs 100.48 crore during the previous quarter ended September 2019. There were no Sales reported in the quarter ended September 2020 as against Rs -6.06 crore during the previous quarter ended September 2019.

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