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Real estate stock in focus as company secures Rs 3,700 crore development project on Dwarka Expressway

Shares of diversified commercial services company Indiabulls Ltd are in focus as the company has entered into an agreement with a private landlord to execute a development management project on the Dwarka Expressway in Gurugram. Amid this update, the stock hit an upper circuit of Rs 28.23. The counter opened at Rs 27, up from the previous close of Rs 26.89 on the BSE. Amid a spurt in trading volume by more than 2.19 times, the stock hit a 5 per cent upper circuit. However, the stock soon erased the gain and fell to Rs 26.56. In between, it touched a low of Rs 26.40, a drop of around 2 per cent. Last seen, it was trading at Rs 26.80, down Rs 0.09, or 0.33 per cent. The market value of the company stood at Rs 6,243.18 crore.