Realty index outruns other indices
While Sobha and Indiabulls Real Estate have given over 150% return, Unitech, HDIL, DLF and Godrej Properties raised over 100% in the past 12 months
Even as benchmark indices raised over 30% in the last 12-month, realty indices on the BSE and NSE clocked over 100% growth in the same period.
Despite many disruptions like note ban, goods and services tax (GST) and slump in the realty market, the indices remained bullish.
While Sobha and Indiabulls Real Estate have given over 150% return, Unitech, HDIL, DLF and Godrej Properties raised over 100% in this period.
In the last seven days, shares of Jaiprakash Associates and Unitech, which were unable to deliver flats to homebuyers due to fund crunch, have risen over 36% and 26%, respectively.
In today's trade, Nifty Realty index rose over 3% in the final leg of the trading on the NSE. While Unitech rose 12%, Phoenix Mills, DLF and HDIL witnessed over 3% gain.
Indian markets remained cautious ahead of futures and options (F&O) expiry for December due today. Stock indices were flat even as robustness seen in metal and telecom stocks amid higher Asian cues.
The 30-share BSE index was 33,902.36 at 12.27 pm. HUL , Tata Steel and Coal India were the top performers in the index.