Nifty Realty index down 5%; HDIL tanks 23% intra-day
Indiabulls Real Estate, DLF and Unitech from Nifty Realty index were down more than 5% each.
 "Nifty Realty index down 5%; HDIL tanks 23% intra-day")
premium
Shares of real estate companies were under pressure with Nifty Realty index down by nearly 5% on the National Stock Exchange (NSE) in late noon deals. Housing Development and Infrastructure Limited (HDIL), Indiabulls Real Estate, DLF and Unitech from Nifty Realty index were down more than 5% each.
At 03:03 pm; the Nifty Realty index was down 4.8% as compared to 0.77% decline in Nifty 50 index.
HDIL has tanked 23% to Rs 53.40, extending its 17% fall in past two trading sessions, after the real estate developer on Thursday, August 3, said that the National Company Law Tribunal (NCLT) has admitted Union Bank of India’s plea against subsidiary.
“The National Company Law Tribunal has admitted an application from Union Bank of India for its wholly-owned subsidiary Guruashish Constructions Private Ltd under the Insolvency and Bankruptcy Code,” HDIL said in BSE filing.
NCLT had appointed insolvency resolution professionals to carry out the functions, it added.
The company will file a reply and take appropriate measures, as and where required in the proceedings with the Tribunal and the Appellate Authorities, HDIL said.
At 03:03 pm; the Nifty Realty index was down 4.8% as compared to 0.77% decline in Nifty 50 index.
HDIL has tanked 23% to Rs 53.40, extending its 17% fall in past two trading sessions, after the real estate developer on Thursday, August 3, said that the National Company Law Tribunal (NCLT) has admitted Union Bank of India’s plea against subsidiary.
“The National Company Law Tribunal has admitted an application from Union Bank of India for its wholly-owned subsidiary Guruashish Constructions Private Ltd under the Insolvency and Bankruptcy Code,” HDIL said in BSE filing.
NCLT had appointed insolvency resolution professionals to carry out the functions, it added.
The company will file a reply and take appropriate measures, as and where required in the proceedings with the Tribunal and the Appellate Authorities, HDIL said.
| COMPANY | LATEST | PREV CLOSE | LOSS(%) |
| H D I L | 57.50 | 69.35 | -17.09 |
| UNITECH | 8.15 | 8.85 | -7.91 |
| DLF | 179.00 | 191.45 | -6.50 |
| ANANT RAJ | 57.00 | 60.85 | -6.33 |
| D B REALTY | 38.30 | 40.85 | -6.24 |
| ANSAL PROPERTIES | 24.85 | 26.45 | -6.05 |
| SWAN ENERGY | 125.50 | 131.35 | -4.45 |
| DELTA CORP | 167.80 | 175.55 | -4.41 |
| PURAVANKARA | 73.60 | 76.80 | -4.17 |
| INDBULL.REALEST. | 255.15 | 265.90 | -4.04 |
| PROZONE INTU | 40.00 | 41.40 | -3.38 |
| AHLUWALIA CONTR. | 274.25 | 283.70 | -3.33 |
| OBEROI REALTY | 377.05 | 389.25 | -3.13 |
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%