Real estate and infrastructure companies have rallied by up to 20% on the back of heavy volumes on expectations of change in policy environment.
Unity Infrasprojects, Lanco Infratech, IL&FS Engineering and Constructions, Unitech, Oberoi Realty, Housing Development and Infrastructure (HDIL), Ansal Properties, Man Infraconstructions and Kolte Patil Developers have rallied more than 10% each on the Bombay Stock Exchange (BSE).
The S&P BSE Realty index, a gauge for real estate companies, the largest gainer among sectoral indices, has rallied 5.1% compared to a 0.50% rise in benchmark S&P BSE Sensex at 1000 hours.
With election of majority government, investors are pinning hopes that the new government will not suffer from the coalition constraints.
“We are hopeful that the new Government will take immediate steps to unlock the policy logjam and concentrate on reviving the economy as well as the investor confidence,” says Kishor P Ostwal, CMD, CNI Research.
Among individual stocks, Lanco Infratech is locked at the upper circuit for the second day in a row, up 20% at Rs 11.84. A combined 31.08 million shares already changed hands on the counter and there are pending buy orders for 2.41 million shares on the NSE and BSE.
Unitech has surged 15% to Rs 26.35, followed by Oberoi Realty (14% at Rs 253), D B Realty (11% at Rs 75) and HDIL and IVRCL are up 10% each at Rs 96.80 and Rs 26.55 respectively.
Unity Infrasprojects, Lanco Infratech, IL&FS Engineering and Constructions, Unitech, Oberoi Realty, Housing Development and Infrastructure (HDIL), Ansal Properties, Man Infraconstructions and Kolte Patil Developers have rallied more than 10% each on the Bombay Stock Exchange (BSE).
The S&P BSE Realty index, a gauge for real estate companies, the largest gainer among sectoral indices, has rallied 5.1% compared to a 0.50% rise in benchmark S&P BSE Sensex at 1000 hours.
With election of majority government, investors are pinning hopes that the new government will not suffer from the coalition constraints.
“We are hopeful that the new Government will take immediate steps to unlock the policy logjam and concentrate on reviving the economy as well as the investor confidence,” says Kishor P Ostwal, CMD, CNI Research.
Among individual stocks, Lanco Infratech is locked at the upper circuit for the second day in a row, up 20% at Rs 11.84. A combined 31.08 million shares already changed hands on the counter and there are pending buy orders for 2.41 million shares on the NSE and BSE.
Unitech has surged 15% to Rs 26.35, followed by Oberoi Realty (14% at Rs 253), D B Realty (11% at Rs 75) and HDIL and IVRCL are up 10% each at Rs 96.80 and Rs 26.55 respectively.