The future of Indiabulls Real Estate looks bright. Know why

Futures of mid-sized realtor Indiabulls Real Estate were the top gainers in the derivatives segment as they showed a sharp rise in Open Interest accompanied by a build up in long positions.

The Futures surged 9 percent to 56.35 rupees on the National Stock Exchange after they snapped a 4-day fall. Traded volumes of 4,917 contracts were the highest in 2-weeks. The stock was among the top traded on the NSE with 1 crore shares changing hands compared with the 5-day trading average of 41.5 lakh shares.

Indiabulls Real Estate has borne the brunt of major selling in the realty space over the past one year as investors got disenchanted with the sector. The company's market capitalisation has eroded 33 percent to 2,300 crore rupees in the past 12 months.

(Image credit: Indiatimes)