After weeks of weakness the most beaten down real estate stocks had good bounce back in today markets.
Though the Realty index was up by only 1.89% but some smaller stocks like Orbit Corporation, Parsvnath, and Ansal Infra amount the top gainers.
Sector leaders like DLF was down by 0.86% and Unitech was up by 2.51%
Orbit corporation was up by 40.38% on the new of company has not Pledge any shares with any lenders. Same kind of news also took up the shares like Parvnath, Ansal Infra.
Markets analyst feel that this sector has been seeing some kind of short covering as these stocks have fallen very steep and may not go down to lower levels.
Indian Market News, news
ansal, DLF, orbit corp, Real estate, Unitech
Real estate stocks which have been losing their market capital since Jan 2008 have seen another bad day in today’s market.
Most of the real estate stock which came out with negative December quarter results had lot of selling pressure and closed lower.
Read more…
Indian Market News, news
Real estate
HDIL, Lost almost 19% during the week which saw huge selling in realty stocks, even the sector majors like Unitech, DLF, and India Bull Real estate lost anywhere between 15 to 18%.
Stocks like DLF and unitech which are facing problem in repayments of debts to the mutual funds are among worst hit.
The traders feel that these companies may not come out with good results and given the low demand form housing sector and other companies put their explanation on hold also leading to prusre on these stocks.
Though these stocks look attractive form the market price, but one need to wait some time before investing in these stocks as more clarity required on this sector.
Almost all real estate shares closed in red except Akruti City. Akruti City Closed in green on the news that the company promoters have paid the loan and got the pledged share released.
Akruti , has high promoter holding, the share price of the company has closed at 797.85
Fundamental Analysis, Indian Market News, Market Gossip, news
DLF, HDIL, Ibreal, Real estate, Unitech