Banks can invest in REITs; Realty index at fresh 52-week high post RBI move

DLF, Godrej Properties, Oberoi Realty, HDIL, Sobha and Indiabulls Real Estate were up 1% to 6%.

Shares of real estate companies were trading higher by up to 6%, erasing their intra-day losses after the Monetary Policy Committee (MPC) said banks can invest in Real Estate Investment Trusts (REITs).

DLF, Unitech, Godrej Properties, Oberoi Realty, Housing Development & Infrastructure (HDIL), Sobha and Indiabulls Real Estate from the realty index were up 1% to 6% on the BSE in intra-day trade, post RBI policy.

At 03:04 pm; S&P BSE Realty index, the largest gainer among sectoral indices, was up 2% at 1,707 as compared to 0.18% decline in the S&P BSE Sensex. The realty index hit