Brokerage upgrades, REIT IPO help Prestige Estates, Phoneix Mills gain

Prestige Estates and Phoenix Mills were among the key gainers in the realty pack over the last ten days appreciating in the range of 10-23 per cent. In addition to brokerage upgrades, recent steps taken by the Goods and Services Tax council, steady commercial real estate market and good response to the maiden real estate investment trust (REIT) public offering have helped players in the commercial segment. 

Analysts say the outlook for the commercial real estate sector, which has been resilient even while residential segment went through a downturn, is healthy. Unlike pricing pressures and demand weakness in residential space,