India bulls Real Estate shares surge 11?ter Rare Enterprises picks stake

India bulls Real Estate shares surge 11?ter Rare Enterprises picks stake

Indiabulls Real Estate share price surged 11 percent in early trade on November 13 after Rare Enterprises picked up an equity stake in the company.

Ace investor Rakesh Jhunjhunwala-owned Rare Enterprises on November 12 picked up a 1.1 percent equity stake in the company via open market transactions.

Rare Enterprises has acquired 50 lakh equity shares in the Indiabulls Group-owned real estate firm (representing 1.1 percent of the total paid-up equity shares) at Rs 57.73 per share, the bulk deals data available on the National Stock Exchange showed.

The shares bought by Rare Enterprises were worth Rs 28.86 crore.