New Delhi, Aug. 25 -- Indiabulls' share price witnessed strong intraday volatility on Tuesday, 25 August, with the stock hitting its upper circuit and erasing all gains after the company provided an update on its Gurugram project.

Indiabulls shares opened at Rs.27, up from their previous close of Rs.26.89, and jumped 5% to hit their upper price band of Rs.28.23. However, the stock soon erased gains. Around 1:25 PM, the stock was down 0.41% to Rs.26.78. At one point during the session, the stock was down nearly 2%.

The stock witnessed strong volatility after the company, in an exchange filing during the day, said it had entered into an understanding and agreement with a private landlord to undertake development management of a residentia...