Realty shares trade weak after status quo on GST rate
Ansal Properties & Infrastructure, Marathon Nextgen Realty, DB Realty, Purvankara, HDIL and Sobha were down in the range of 4 per cent to 6 per cent on the BSE.
 "real estate, housing, realty, home, building")
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Positive impact of the policy reforms, including RERA and GST, have begun to bear fruit
Shares of real estate companies were trading weak and falling up to 6 per cent on BSE in the intra-day deal on Friday after the goods and services tax (GST) Council on Thursday deferred a decision on a tax rejig for residential properties.
Ansal Properties & Infrastructure, Marathon Nextgen Realty, DB Realty, Purvankara, Housing Development & Infrastructure (HDIL) and Sobha were down in the range of 4 per cent to 6 per cent on the BSE. DLF, Oberoi Realty, Indiabulls Real Estate and Prestige Estates were down 1 per cent each.
At 12:41 pm; the S&P BSE Realty index was down 1.2 per cent, as compared to 0.48 per cent decline in the S&P BSE Sensex.
The realty index had outperformed the market by gaining 3.5 per cent in past nine trading sessions of calendar year 2019, on hopes of cut in the GST rate for under construction and finished houses to 5 per cent. In comparison, the benchmark index was up marginally by 0.11 per cent till yesterday. DLF, Oberoi Realty, Sobha and HDIL from the index were up between 3 per cent and 7 per cent during the period.
Ansal Properties & Infrastructure, Marathon Nextgen Realty, DB Realty, Purvankara, Housing Development & Infrastructure (HDIL) and Sobha were down in the range of 4 per cent to 6 per cent on the BSE. DLF, Oberoi Realty, Indiabulls Real Estate and Prestige Estates were down 1 per cent each.
At 12:41 pm; the S&P BSE Realty index was down 1.2 per cent, as compared to 0.48 per cent decline in the S&P BSE Sensex.
The realty index had outperformed the market by gaining 3.5 per cent in past nine trading sessions of calendar year 2019, on hopes of cut in the GST rate for under construction and finished houses to 5 per cent. In comparison, the benchmark index was up marginally by 0.11 per cent till yesterday. DLF, Oberoi Realty, Sobha and HDIL from the index were up between 3 per cent and 7 per cent during the period.