Cement demand should improve with the focus on affordable housing, and strong demand from commercial real estate, and possible pick-up in industrial capex
The uptick in share price came after Prestige Estates announced that its board has approved fundraising of up to Rs 5,000 crore via qualified institutional placement (QIP)
According to analysts, the BJP's manifesto mentioned affordable housing as one of the key focus areas, among others, which could keep real estate players in the pink of their health
The top performer in FY24 was the Nifty Realty Index, which witnessed a staggering 132.5% rise, followed by Nifty PSE (Public Sector Enterprises)
Meanwhile, thus far in the calendar year 2024, the Nifty Realty index has surged 21 per cent, as compared to 2 per cent rise in the benchmark index.
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG exudes a bullish short-term trend; while the Metal and Realty indices suggests a sell strategy.
Despite the price hikes, affordability improved across markets as income growth surpassed pricing growth, which should keep momentum intact in demand and pricing, the report stated
A prudent trading strategy in the Nifty Realty index would involve booking profits, and adopting a cash position
Since March 28, the market prices of DB Realty, Puravankara, and Prestige Estates Projects have zoomed over 200 per cent
Charts suggest that the bias for the realty stocks is likely to remain favourable as long as they hold these key support levels.
The index, representing the performance of real estate stocks, climbed 4.1 per cent to close at Rs 4,842.12, marking its highest level since 12 September 2008
The counter that hit a 52-week low of Rs 42.39 on August 29, 2023, traded at a record low of Rs 37.96 in March 2009. It had hit a record high of Rs 581.24 in December 2007
Nifty Realty index to rise up to 5 per cent in the coming weeks, post delivering bullish breakout on the charts.
Including today's gains, the Nifty Realty index has surged 7 per cent this week as against 0.3 per cent fall in the benchmark indices
While the Nifty Realty index is expected to pullback in the near-term, the Nifty Auto index seems to be trapped in a consolidation range, says Ravi Nathani, an independent technical analyst.
The Nifty Pharma Index is currently trading at a CMP of 12,976.80. The index is expected to undergo a consolidation phase with a negative bias
The NSE Nifty Realty Index has gained 36% since a March-low as cooling inflation allowed the Reserve Bank of India to keep rates on hold
Motilal Oswal continues to see re-rating potential in companies, which would provide further growth visibility on the back of strong business development through robust cash flows.
Sell the Nifty Pharma index and its constituents and book profits, as the index has been underperforming in recent days
Stocks to watch on May 22, 2023: The Rs 2,000 note withdrawal could have an impact ont the real-estate companies, believe Indian CEOs.