Realty Index Gains 2%; Led By Indiabulls, DLF, Oberoi Realty

In today's trade after Nifty has notched levels of 15304 at day's high and broader markets are performing well in line. Among the Nifty sectoral indices, Nifty Realty was up close to 2 percent at the time of writing this report, only after Nifty Media which was up 2.36 percent.

Within the realty pack, the stocks pushing the index higher are Indiabulls Real Estate, Prestige Estate, DLF, Oberoi Realty and Phoenix Mills among others, while those pulling the realty index down are Brigade Enterprises and Godrej Properties.

For few days, the realty index is gaining traction. Also,TCI Developers has hit a 20 percent upper circuit at Rs. 380.30 per share on the NSE.

With interest rate on housing loan at multi-year lows and Covid 19 crisis continuing, the players from the sector sees robust sales performance in FY22.

Real estate player, Oberoi Realty, for the Q4FY21 period posted the highest ever quarterly sales bookings. Also the company in a leading dailies report said that it plans to re-develop residential buildings as well as purchase new land for coming up with new projects.

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