10 Jan 2022 , 01:16 PM
Nifty Realty was 1.6% higher to go with bullish markets on Monday a the index was boosted by robust quarterly business updates from top realty companies.
Sunteck Realty hit a 52-week high of Rs554.90 per piece. Oberoi Realty and Sobha also advance on quarterly updates like Sunteck. Brigade, DLF, and Lodha were also in the fast lane. Phoenix Mills Limited was the only listed real estate company on the NSE, under pressure.
Benchmark indices saw a solid start to Monday's trade amid expectations of strong earnings from the initial batch of companies this week.
At around 12.55 pm, BSE Sensex was trading at 60,296.42 up 551.77 points or 0.92% and Nifty 50 at 17,974.10 up 161.40 points or 0.91%. Nifty Realty was trading at 493.55 up 7.75 points or 1.60%, touching a high of 497.80 and low of 490.50 during intraday trade on Monday.
Oberoi Realty rose 2.5% to Rs933.40 after the Mumbai-based realty developer reported strong sales numbers in Q3 December 2021. On a consolidated basis, Oberoi Realty's sales booking value surged 102.37% to Rs1,965cr during the October-December quarter from Rs971cr in the year-ago period. It sold 371 units during the last quarter against 234 units a year ago, up 58.55% year-on-year.
DLF and Brigade surged 2.3% respectively to lift the performance of the sector. Lodha (up 1.73%), Godrej Properties (up 1.5%) and Indiabulls Real Estate (up 1.5%) also outperformed.
Prestige was also trading in the green. Phoenix Mills Limited dragged nearly 3.5% at Rs954.50 per piece.
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