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Sobha, Prestige dip after K'taka govt mulls construction ban for 5 yrs

The decision, however, would be finalized after discussing with the builders, Karnataka CM added.

Real Estate
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Real Estate

SI Reporter New Delhi
Shares of south India based real estate companies mainly Sobha, Prestige Estates Projects and Brigade Enterprises have fallen by up to 7 per cent on the National Stock Exchange (NSE) in intra-day trade on Friday after reports suggested that Karnataka government was mulling to ban construction activity in the state for 5 years owing to acute water supply shortage.

Among the individual stocks, Sobha dipped 7 per cent to Rs 507, followed by Brigade Enterprises (down 6 per cent at Rs 247) and Prestige Estates Projects (down 4 per cent at Rs 267) on the NSE.

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First Published: Jun 28 2019 | 1:05 PM IST

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