CNX Realty index up 5%; DLF, HDIL surge 8%

HDIL, Indiabulls Real Estate, DB Realty and Oberoi Realty are up 5%-8% .

Shares of real estate companies have rallied by up to 8% on the bourses after falling sharply in past couple of months.

DLF, Housing Development and Infrastructure (HDIL), Indiabulls Real Estate, DB Realty and Oberoi Realty are up between 5%-8% while Unitech, Godrej Properties, Sobha, Delta Corp, Ashiana and NBCC have gained between 1%-4%.

At 10:20 AM, the CNX Realty index, the largest gainer among the sectoral indices, was up 5.2% compared to 1.2% rise in the CNX Nifty. The S&P BSE Realty index also rallied 5% against 1% rise in the S&P BSE Sensex.

Over the past six months, the realty indices had fallen 34% compared to 14% decline the benchmark indices till yesterday.

DLF has rallied 8% to Rs 119, extending its previous day’s nearly 4% gain on the BSE, after DLF Home Developers, a subsidiary of the company and Singapore's sovereign wealth funds GIC entered into a joint venture to invest in two upcoming projects in Delhi's Moti Nagar. While GIC will invest $300 million (around Rs 1,990 crore), DLF will develop the projects.

Company	02/09/2015	03/09/215	% chg*	52-week high	% chg#	52-week low
DLF	109.60	118.6	8.21	186.70	-36.48	93.00
HDIL	58.65	63.25	7.84	143.00	-55.77	57.10
Indbulls Real Estate	60.45	64.65	6.95	86.90	-25.60	41.00
Oberoi Realty	210.30	221.15	5.16	334.00	-33.79	203.05
DB Realty	52.95	55.6	5.00	98.00	-43.27	48.00
Godrej Propert.	296.65	308.75	4.08	360.00	-14.24	220.10
Ashiana Housing	157.95	164	3.83	327.30	-49.89	142.00
Unitech	5.93	6.15	3.71	26.65	-76.92	5.40
Sobha	273.40	280.15	2.47	536.00	-47.73	272.10
NBCC	965.20	989	2.47	1214.50	-18.57	432.50
Mahindra Life.	442.15	450.95	1.99	580.00	-22.25	401.30
Prestige Estates	202.65	206.25	1.78	323.70	-36.28	181.00
Price on BSE in Rs
* Change over previous close, # change over 52-week high
Source : CapitalinePlus/BSE