Indiabulls Real Estate zooms by more than 6 per cent; here's why!

The stock made a high of Rs 107.40 per share while it opened at Rs 101.40 per share.

Sensex is up during today's morning session by nearly 300 points. While the advance-decline ratio is in favour of advances in the morning session, Indiabulls Real Estate is seen sizzling on the bourses by recording gains of more than 6 per cent. 

The stock made a high of Rs 107.40 per share while it opened at Rs 101.40 per share. 

There is a buzz in the market that Blackstone-led NAM Estates may offer to buy Sameer Gehlaut's residual 11 per cent stake at over Rs 126 per share in Indiabulls Real Estate. 

Also, there is a pick-up in demand in the real estate sector aiding the valuation of the company. Real estate stocks are seen outperforming in markets lately.

The stock soared 131 per cent in one year while it went up by 32 per cent on a YTD basis.