Nifty Realty trades higher; Sobha surges 5%; Indiabulls Real Estate, Godrej Properties also outperform

Phoenix Mills was 1.08% lower to drag the sector. DLF was trading flat.

November 24, 2021 1:05 IST | India Infoline News Service
Nifty Realty was trading higher on Wednesday amidst the bullish markets. Sobha Limited surged 5% while Indiabulls Real Estate and Godrej Properties also advanced over 3%. Phoenix Mills Limited was 1% lower.

Sensex jumps over 150 points, Nifty50 firm above 17,550. The Indices held on to early gains in a choppy session amid weakness across most other Asian markets. Gains in financial and oil & gas shares pushed the headline indices higher.

At around 1.05 PM, BSE Sensex was trading at 58,820.23 up 155.9 points or 0.27% and Nifty50 at 17,567.25 up 63.90 points or 0.37%. Nifty Realty was trading at 521.80 up 5.80 points or 1.12%, after touching a high of 524.40 and low of 516.10 during intraday trade.

Sobha Limited led the sectorial gains by surging nearly 5% at Rs851.00 per piece. The stock hit a day's high of Rs857.45 per piece during intraday trade on Wednesday.

Indiabulls Real Estate Limited rose on 3.2% at Rs179.65 per piece. The company on Tuesday has allotted Secured, Redeemable, Non-Convertible Debentures of face value Rs10 lakhs each (NCDs) aggregating Rs75cr, on a private placement basis.

Godrej Properties was 3% higher at Rs2,243.00 per piece. The company reportedly sees strong traction in Mumbai, Pune, Bangalore; expects price hike trend to accelerate. The company recently launched its first digital brand campaign. Godrej Properties posted a good business update for Q2.

Sunteck Realty was also 1.3% higher. Prestige, Lodha, Brigade and Oberoi Realty also traded in the green. DLF was trading flat.

Phoenix Mills was 1.08% lower at Rs1,035.45 per piece to drag the sector. 

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The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction



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