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Nifty Realty surges over 2% with all stocks trade bullish; Prestige, Oberoi Realty outperformed

12 Jan 2022 , 10:45 AM

On Wednesday, the Nifty Realty index outperformed with gains of more than 2% in the early morning session amid positive market cues. The index reclaims 500-mark and in a bull run with all 10 scrips were trading in the  green lifting Nifty benchmark up.

Meanwhile, the expected positive quarter results helped the sector to impart resilience to the market. However, globally exploding Omicron cases in Europe and US market is somehow manageable risk for the investors as Indian budget session is on the way next month which can possibly increase the hope for market players in view of economic recovery.

On the sectoral front, except for IT stocks, all the indices were trading in the green with metal, banking, oil & gas stocks up 1% each tracking positive global cues.

At around 10:45 AM, Nifty Realty was trading at 509.15 up 11.20 points or 2.25%, touching a high of 483.50 and low of 476.80 during intraday trade.

Phoenix Mills led the pack being top bull at Rs485.60 per piece, zoomed over 5%. Oberoi Realty surges 3.5% at Rs965.20 per piece. Heavyweight Godrej Properties rose over 2.5% to lead the gains.

Further, Sobha and DLF led the charge and advanced 2.41% each to lift the sectorial performance while Sunteck and Indiabulls Real Estate also gained around 2% each. DLF clocked sales worth Rs1500cr in its newly launched housing project at Moti Nagar in the national Capital, reflecting strong demand for luxury apartments.

Brigade advanced over 1.5% while Lodha (Macrotech Developers) and Phoenix Mills traded in the green to support the bullish sector.

Further, quarterly updates of some of the realty majors are:

Sunteck Realty pre-sales jumped 23% yoy while collections grew 41% yoy in Q3 December 2021 over Q3 December 2020.

Mumbai-based realty developer Oberoi Realty 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%yoy

Sobha reported sales volume of 13,22,684 square feet of super built-up area valued at Rs 1,047.5 crore in Q3FY22, up from sales volume of 11,33,574 square feet of super built-up area valued at Rs887.6cr in Q3FY21. Sobha share of sale value stood at Rs908.2cr during the quarter, up from Rs677.7cr in same quarter last year.

Related Tags

  • Brigade Enterprises share price
  • DLF share price
  • festive season
  • Godrej Properties share price
  • Indiabulls Real Estate share price
  • market
  • nifty
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