Indiabulls shares climbed more than 3% on Friday, extending a multi-day rally driven by stronger-than-expected first-quarter earnings and a significant capital-raising plan.
The stock’s advance came despite broader weakness in Indian equity markets, highlighting investor confidence in the company’s turnaround trajectory.
The positive reception follows a strong session on Thursday, when Indiabulls shares hit the 5% upper circuit, closing at ₹29.
The Mumbai-listed conglomerate reported a consolidated net profit of ₹142.99 crore for the quarter ended June 2026 (Q1FY27), a sharp improvement aided by robust revenue growth.
Alongside the financial results, the company’s board approved a fresh equity issue of ₹1,000.07 crore.
Management emphasized that the capital raise is intended to accelerate growth initiatives while maintaining a zero net debt position, a key metric for investors monitoring the firm’s balance sheet health.
The positive reception follows a strong session on Thursday, when Indiabulls shares hit the 5% upper circuit, closing at ₹29.61.