Nifty Realty index outperforms; Oberoi Realty skyrockets 13%

Major stocks like Oberoi Realty, Prestige, Brigade and Godrej Properties tapped the index.

Oct 20, 2020 02:10 IST India Infoline News Service

Stock traders celebrating
Realty stocks were trading on a bullish note during Tuesday's session. The Nifty Realty index witnessed outperformance and was performing at 224.15 up 2.66%.

On the index, Oberoi Realty was the lead gainer, trading at Rs439.85 per piece surging by 12.85%. The performance was swayed after the company announced its financial performance for September 2020 quarter.

In Q2FY21, Oberoi Realty recorded consolidated revenue of Rs325.28cr as against Rs505.09cr for Q2FY20. The company posted a consolidated net profit of Rs138.38cr for Q2FY21 as against Rs138.22cr for Q2FY20.

Furthermore, on Nift Realty, Oberoi was joined by Brigade Enterprises in the top gainers' list, by performing at Rs170 per piece up 6.08%.

Stocks like Sobha and Godrej Properties surged by 3% each.

Other stocks like DLF, Prestige Estates and Sunteck also added to the gains.

On Tuesday, Sunteck entered into an agreement to acquire approx 50-acre land parcel in Vasind. The project will offer approximately 2.6 million square feet.

However, stocks like Phoenix and Indiabulls Real Estate were among top underperformers. 

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