CNX Realty index up 5%; DLF, HDIL surge 8%
HDIL, Indiabulls Real Estate, DB Realty and Oberoi Realty are up 5%-8% .
 "CNX Realty index up 5%; DLF, HDIL surge 8%")
Shares of real estate companies have rallied by up to 8% on the bourses after falling sharply in past couple of months.
DLF, Housing Development and Infrastructure (HDIL), Indiabulls Real Estate, DB Realty and Oberoi Realty are up between 5%-8% while Unitech, Godrej Properties, Sobha, Delta Corp, Ashiana and NBCC have gained between 1%-4%.
At 10:20 AM, the CNX Realty index, the largest gainer among the sectoral indices, was up 5.2% compared to 1.2% rise in the CNX Nifty. The S&P BSE Realty index also rallied 5% against 1% rise in the S&P BSE Sensex.
Over the past six months, the realty indices had fallen 34% compared to 14% decline the benchmark indices till yesterday.
DLF has rallied 8% to Rs 119, extending its previous day’s nearly 4% gain on the BSE, after DLF Home Developers, a subsidiary of the company and Singapore's sovereign wealth funds GIC entered into a joint venture to invest in two upcoming projects in Delhi's Moti Nagar. While GIC will invest $300 million (around Rs 1,990 crore), DLF will develop the projects.
DLF, Housing Development and Infrastructure (HDIL), Indiabulls Real Estate, DB Realty and Oberoi Realty are up between 5%-8% while Unitech, Godrej Properties, Sobha, Delta Corp, Ashiana and NBCC have gained between 1%-4%.
At 10:20 AM, the CNX Realty index, the largest gainer among the sectoral indices, was up 5.2% compared to 1.2% rise in the CNX Nifty. The S&P BSE Realty index also rallied 5% against 1% rise in the S&P BSE Sensex.
Over the past six months, the realty indices had fallen 34% compared to 14% decline the benchmark indices till yesterday.
DLF has rallied 8% to Rs 119, extending its previous day’s nearly 4% gain on the BSE, after DLF Home Developers, a subsidiary of the company and Singapore's sovereign wealth funds GIC entered into a joint venture to invest in two upcoming projects in Delhi's Moti Nagar. While GIC will invest $300 million (around Rs 1,990 crore), DLF will develop the projects.
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