Current Price on 14th May 2011 = $0.22
Indiabulls has reported their results with no DPU declared as usual. From the financial statements, it looks like they are still trying to survive especially the negative cashflow for every quarter. No yield but with an attractive price-to-book ratio.
I am running out of patience for this counter which has not performed at all. Their plans still need a few years to materialize which I think is a bit too long considering that they were confident to give 8% yield in guidance when they file for IPO.
I have 5,000 shares of Indiabulls worth $1,000 and it reminds me of a bad investment decision which I have made earlier. I am considering to offload it so that I can use it to buy other investments which are more promising.