Indiabulls Wholesale Services Limited, which recently changed its name to ‘SORIL Holdings and Ventures Limited’ saw its share price move above Rs. 53 on 18 April, hitting a new 52 week high before falling. The stock is still trading above its 200 day SMA.
Indiabulls Wholesale is engaged in the business of wholesale trading for industrial or consumer products and commodities in select Indian cities, but is not yet a dominant player. The Indiabulls Group's stocks have been buzzing on the BSE and NSE after the announcement of restructuring plans at Indiabulls Real Estate. Indiabulls Ventures Limited also traded up strongly, and hit a new 52 week high today.