Real estate, cement shares trade firm in weak market

UltraTech, Ambuja Cements, ACC, Dalmia Bharat, Oberoi Realty, DLF, HDIL and NBCC were up 2%-5%

Shares of real estate and cement companies were trading firm in otherwise weak market after Prime Minister Narendra Modi announced a slew of incentives to boost rural and urban housing post demonetization.

UltraTech Cement, Ambuja Cements, ACC, Dalmia Bharat, JK Lakshmi Cement, India Cements, Heidelberg Cement, Prism Cement and JK Cements from the cement sector and Oberoi Realty, DLF, Housing Development & Infrastructure (HDIL), NBCC, Godrej Properties, Indiabulls Real Estate and J Kumar Infra from the real estate were up in the range of 2%-5% on the BSE.

At 10:13 am; the S&P BSE Sensex was down 0.39% or 104 points at 26,523.

Prime Minister Narendra Modi on Saturday announced interest subsidy of up to 4% on loans taken in the New Year under the Pradhan Mantri Awaas Yojana (PMAY).

Announcing a slew of measures, Modi said 33% more homes will be built for the poor under the PMAY in rural areas.

Loans of up to Rs 900,000 taken out in 2017 to receive interest rebate of 4%, while loans of up to Rs 1,200,000 taken out in 2017 to receive interest rebate of 3% and loans of up to Rs 200,000 taken in 2017 for new housing, or extension of housing in rural areas, to receive an interest rebate of 3%. CLICK HERE TO READ FULL STORY

Most of the real estate and cement sector stocks had corrected between November 8 and December 26, post demonisation.

Company	08/11/2016	26/12/2016	% chg	30/12/2016	% chg
J K Cements	912.20	640.35	-29.80	730.00	14.00
H D I L	74.45	54.25	-27.13	61.45	13.27
India Cements	155.40	107.75	-30.66	120.10	11.46
NBCC	234.70	220.00	-6.26	244.00	10.91
J Kumar Infra	199.05	189.60	-4.75	210.00	10.76
Dalmia Bhar.	2021.75	1294.15	-35.99	1418.15	9.58
DLF	143.65	105.35	-26.66	115.00	9.16
Heidelberg Cem.	136.55	103.20	-24.42	112.65	9.16
UltraTech Cem.	3958.10	3086.25	-22.03	3330.00	7.90
Swan Energy	113.55	150.20	32.28	160.80	7.06
Ambuja Cem.	244.15	198.10	-18.86	210.75	6.39
Oberoi Realty	338.10	291.95	-13.65	309.50	6.01
Century Textiles	976.65	762.60	-21.92	807.50	5.89
Godrej Propert.	358.50	293.00	-18.27	308.55	5.31
Sunteck Realty	275.50	209.60	-23.92	220.50	5.20
ACC	1503.75	1286.75	-14.43	1349.50	4.88
JK Lakshmi Cem.	466.65	346.65	-25.72	363.45	4.85
Unitech	5.69	4.06	-28.65	4.24	4.43
Indbull.RealEst.	80.50	69.55	-13.60	72.50	4.24
Prism Cement	101.95	77.45	-24.03	79.40	2.52
Phoenix Mills	363.55	363.75	0.06	371.35	2.09
Sobha	270.35	245.70	-9.12	250.35	1.89
Omaxe	165.85	157.45	-5.06	160.00	1.62