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Realty, infra shares rally ahead of Budget

Unitech, HCC, Jaiprakash Associates, Oberoi Realty, HDIL, IVRCL and GMR Infra were up over 5% each on NSE.

SI Reporter  |  Mumbai 

Shares of real estate and infrastructure companies are trading higher on the bourses on hopes the forthcoming budget may include sops to the housing and infrastructure sector.

Unitech has rallied 11% while Hindustan Construction Company (HCC), Jaiprakash Associates, Oberoi Realty, Housing Development and Infrastructure Company (HDIL), IVRCL and GMR Infrastructure up 5% each on National Stock Exchange (NSE).
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At 1059 hours, and CNX Infra were up 3% and 2% respectively as compared to less than 1% rise in the benchmark CNX Nifty.

According to media reports, the real estate industry sought more tax incentives and lower interest rates for the home buyers in the upcoming Budget to revive demand.

“Pacing up infrastructural development should be the primary focus of the government. Single window clearance system must be introduced. Due to complexities of government channels, many projects get halted and delivery is delayed. A speedy completion of stalled projects is essential,” said Kamal Khetan, chairman and managing director, Sunteck Realty.
 

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