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  • 17 Dec 2021
  • ICICI Securities

Indiabulls Housing founder to resign

News: Sameer Gehlaut, founder of Indiabulls Housing, and his firms have sold 11.9% in the company, bringing down their ownership to 9.8%, according to an exchange filing. Mr Gehlaut will resign from the board of the lender by the end of the fiscal year ending March 31, 2022.

View: We opine that the stake and change of promoters bode well for the stock gradually.

Impact: Positive