Realty shares gain in range-bound market; Prestige Estates surges 18%

Brigade Enterprises, Godrej Properties, Indiabulls Real Estate, Sobha and Oberoi Realty from the Nifty Realty index were up in the range of 2 per cent to 7 per cent on the NSE.

Shares of real estate companies rallied up to 18 per cent on the National Stock Exchange (NSE) in the intra-day trade on Monday, after global investment firm Blackstone and Embassy Office Parks on Friday raised Rs 1,743 crore from anchor investors ahead of the India's first real estate investment trust (REIT) issue that opened today (March 18).

At 02:51 pm, Nifty Realty index, the largest gainer among sectoral indices, was up 2.7 per cent, as compared to a 0.01 per cent decline in the benchmark Nifty50 index.

Among the individual stocks, Prestige Estates soared 18 per cent to