Real estate shares extend gain; HDIL hits 52-week high
SSPDL, Unitech, DLF, Phoenix, HDIL, NBCC (India), Kolte-Patil Developers and Sunteck Realty were up 2%-10%.
 "Real estate shares extend gain; HDIL hits 52-week high")
Shares of real estate companies were trading higher for the second straight day on the bourses after the Securities and Exchange Board of India (Sebi) proposed further relaxations to the real estate investment trusts (Reits) regulations, to attract real estate developers towards launching these instruments.
Earlier, a Reit could invest only up to 10% in an under-construction project. It also eased the criteria for related-party transactions and allowed Reits to have more sponsors.CLICK HERE TO READ REPORT.
Among the individual stocks, SSPDL, Unitech, DLF, Phoenix, Housing Development & Infrastructure (HDIL), NBCC (India), Kolte-Patil Developers and Sunteck Realty were up 2%-10% on the BSE.
HDIL hit a 52-week high of Rs 106 during intra-day trade on the BSE. The stock rallied 10% in past two trading sessions from Rs 96 on June 16, 2016.
At 12:52 AM, the S&P BSE Realty index was up 1.7% as compared to 0.62% rise in the S&P BSE Sensex. In past two trading sessions, the realty index rallied 5% against 1% gain in the benchmark index.
Earlier, a Reit could invest only up to 10% in an under-construction project. It also eased the criteria for related-party transactions and allowed Reits to have more sponsors.CLICK HERE TO READ REPORT.
Among the individual stocks, SSPDL, Unitech, DLF, Phoenix, Housing Development & Infrastructure (HDIL), NBCC (India), Kolte-Patil Developers and Sunteck Realty were up 2%-10% on the BSE.
HDIL hit a 52-week high of Rs 106 during intra-day trade on the BSE. The stock rallied 10% in past two trading sessions from Rs 96 on June 16, 2016.
At 12:52 AM, the S&P BSE Realty index was up 1.7% as compared to 0.62% rise in the S&P BSE Sensex. In past two trading sessions, the realty index rallied 5% against 1% gain in the benchmark index.