Property developers gain on infra bond norms

Reuters Market Eye - Shares in property developers gain after the RBI unexpectedly extended the exemption on reserve requirements to bonds raised by banks, intended for affordable housing as part of the country's measures to boost the infrastructure sector.

"This will help developers as the cost of capital will become cheaper," said an analyst with a local brokerage.

DLF Ltd is up 1.85 percent, Unitech Ltd gains 7.2 percent and Sobha Developers Ltd adds 2.2 percent.

(Reporting by Indulal PM)