Realty stocks rally on rate cut hopes
HDIL, Sobha Developers, Oberoi Realty, Indiabulls Real Estate, Peninsula Land, Anant Raj Industries and DB Realty have rallied more than 5% each on BSE.
Shares of real estate companies have rallied up to 14% on back of heavy volumes on hopes that cooling inflation will force the Reserve Bank of India (RBI) to cut the repo rate at its policy meeting later this month.
Housing Development and Infrastructure (HDIL), Sobha Developers, Oberoi Realty, Indiabulls Real Estate, Peninsula Land, Anant Raj Industries and DB Realty have rallied more than 5% each on the Bombay Stock Exchange (BSE).
The BSE Realty index, the largest gainer among the sectoral indices, is up almost 5% compared to 0.41% rise in benchmark Sensex at 1025 hours.
“The Street expects RBI to cut repo rate 50 bps, in two tranches, before the end of the first half of 2013-14 the first, of 25 bps, on March 19,” the Business Standard report suggests.
Among the individual stocks, HDIL has surged 14% to Rs 69.25 on BSE, followed by Sobha Developers (9% at Rs 421), Peninsula Land (8% at Rs 53.80) and Oberoi Realty (7% at Rs 287).
Housing Development and Infrastructure (HDIL), Sobha Developers, Oberoi Realty, Indiabulls Real Estate, Peninsula Land, Anant Raj Industries and DB Realty have rallied more than 5% each on the Bombay Stock Exchange (BSE).
The BSE Realty index, the largest gainer among the sectoral indices, is up almost 5% compared to 0.41% rise in benchmark Sensex at 1025 hours.
“The Street expects RBI to cut repo rate 50 bps, in two tranches, before the end of the first half of 2013-14 the first, of 25 bps, on March 19,” the Business Standard report suggests.
Among the individual stocks, HDIL has surged 14% to Rs 69.25 on BSE, followed by Sobha Developers (9% at Rs 421), Peninsula Land (8% at Rs 53.80) and Oberoi Realty (7% at Rs 287).