ALSO READShould you invest in realty as Rera comes into effect? Nifty Realty index hits two-year high; DLF, Indiabulls touch 52-week high Nifty Realty index hit 52-week high; DLF, Indiabulls, HDIL up over 5% Nifty Realty index 33-month high; Indiabulls surges over 10% Nifty Realty index down 5%; HDIL tanks 23% intra-day
Besides Sobha, Purvankara, Ajmera Realty & Infra India and Marathon Nextgen have surged between 12% and 19% on the BSE. Kolte-Patil Developers, Anant Raj Industries, Prestige Estates and Delta Corp, Simplex Realty were up in the range of 3% to 4%.
At 02:58 PM; the S&P BSE Realty index, the largest gainer among sectoral indices, was up 2.7% at 2,163 as compared to 0.12% rise in the benchmark S&P BSE Sensex.
Nifty Realty index too up 2.6% at 285.60 against 0.09% rise in the Nifty 50 index. The realty index hit an intra-day high of 286.60, is 3% away from its 52-week high of 294.85 touched on September 13, 2017 in intra-day trade.
Sobha hits a 52-week high of Rs 470, up 20% on BSE in intra-day trade after the company said that it achieved new sales value of Rs 593 crore in Q2FY18 was the highest in the past 10 quarters. The real estate developer had reported sales value of Rs 518 crore in the same quarter last fiscal.
“The company achieved new sales volumes of 861,084 square feet total valued at Rs 675 crore with an average realisation of Rs 7,840 per square feet in second quarter. Sales volume is marginally higher and total sales value is up by 22.5% as compared to Q2FY17,” Sobha said in an exchange filing.
Despite a challenging macro environment, the company is confident of maintaining sales momentum in forth coming quarters, it added.
|J KUMAR INFRA||228.45||216.30||5.6|
|SHERVANI INDL SY||270.00||259.45||4.1|
|KOLTE PATIL DEV.||211.80||203.65||4.0|