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| Realty stocks bounce back |
| BS Reporter / Mumbai Jul 10, 2009, 11:51 IST |
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The realty stocks have bounced back in intra-day trades following the recent fall.
Parsvanath has advanced 6% to Rs 84. Unitech has added 3% to Rs 72.
Indiabulls Realestate has gained 2% at Rs 191. DLF is up 2% at Rs 284.
Sobha Developers, Anant Raj Industries, HDIL and Omaxe have increased 2-3% each.
Prior to the Budget, the real estate players were expecting certain Budget sops and incentives to be announced in favour of them in the Union Budget, like the exemption limit of the housing loans to be extended. Also hike in MAT was a negative for the sector.
The Realty stocks thus started slipping from then as the Budget failed to live up to their expectations.
Post Budget, the BSE Realty index has plummeted nearly 15.5% to 2,907 as of Thursday.
The market leader DLF suffered the most, it tumbled 15.5% to Rs 284.
Unitech tumbled 13% to Rs 73, and Indiabulls Realestate slumped to Rs 191.
Orbit Corporation, Ansal Infrastructures, Omaxe, HDIL, Akruti City and Anant Raj Industries declined 12.5-14.5% each.
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