Buy Indiabulls Real Estate with target of Rs 75: Kunal Saraogi

Kunal Saraogi of Equity Rush is positive on Indiabulls Real Estate. The expert advised traders to buy the stock for an intraday target of Rs 75, keeping stop loss at Rs 70. The stock has so far surged nearly 9 per cent in trade after the company informed the exchanges that it now has a majority stake of 51.18 per cent in the Singapore-listed business trust IPIT. The stock has gained 11 per cent year-to-date and is moving quite above its major simple moving averages.