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MUMBAI: Indiabulls Real Estate stock climbed sharply triggered by Piramyd Retail buy

MUMBAI: The stock was up 4.35% at 717 as thecompany's arm, Indiabulls Wholesale Services, has bought Ashok Piramal group's 63.9% stake in Piramyd Retail. The deal was valued around Rs 208 crore. Indiabulls will also make an open offer at Rs 74.73 per share for 20%more stake in Piramyd Retail.

Indiabulls Real Estate rose 20% to Rs 821.50 in opening trade today on the back of this news. The stock might trade at Rs 850-Rs 900 in the next two months, a dealer said.

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