Nifty Realty index hits 6-month high; up 15% in one month

Godrej Properties, Indiabulls Real Estate, Prestige Estates, Brigade Enterprises and DLF from the index were up between 2 to 5 per cent on the NSE.

Shares of real estate companies were in focus with Nifty Realty index hitting a six-month high after the country’s first real estate investment trust, Embassy Office Parks REIT initial public offer (IPO) got good response and fully subscribed on Wednesday.

At 02:45 pm, Nifty Realty index, the largest gainer among sectoral indices, was up 1.8 per cent at 264, gaining 5 per cent since Embassy Office Parks REIT IPO opened for subscription on Monday. In comparison, the Nifty50 index has risen 0.85 per cent in the past three trading days.

The Nifty Realty index was trading at its