Moody’s ups India’s GDP growth forecast to 7.2 pc for 2024
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Shares of Indiabulls Housing Finance on Thursday fell over 8 per cent as the company awaited exclusion from the Nifty 50 index.
The housing finance company will be replaced by Nestle India which jumped over 3 per cent in the early trade.
The exclusion of IndiaBulls Housing Finance will take effect from September 27.
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Earlier Indiabulls had fallen sharply after rating agency Moody’s downgraded the company’s long-term corporate family rating to Ba2 from Ba1, while also changing its outlook to negative from stable.
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