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Realty stocks fall up to 8% amid weak market

Realty stocks fall up to 8% amid weak market
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First Published: Thu, Jul 05 2007. 02 08 PM IST
PTI
Mumbai: Stocks of real estate firms fell between 8-2% on 5 July after realty major DLF made its debut on the stock exchanges.
The Bombay Stock Exchange benchmark index Sensex also declined to over 100 points to an intra-day low of 14,731 and was trading at 14,760.68 in the morning.
DLF, the biggest realty firm on the bourses, was listed with a premium of 10.85% at Rs 582 on the BSE and touched a high of Rs714.25, briefly propelling the market value to over Rs1.00,000 crore.
However, Ansal Properties and Infrastructure fell 8.6% to an intra-day low of Rs283.50 in early trade and was quoting trading at Rs285.70 down 7.9% on BSE.
The shares of Unitech, the second-biggest realty firm in terms of market value, fell to an intra-day low of Rs514 and were trading 6% down at Rs520 in the morning. The scrip of another developer Parsvnath also dipped to an intra-day low of Rs350.50 and was trading down 6.54% at Rs 353.60 on the BSE.
Sobha Developers was down 4.28%, GMR Infrastructure fell over 2% and DS Kulkarni Developer was trading 5% in the red.
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First Published: Thu, Jul 05 2007. 02 08 PM IST
More Topics: Real estate | Unitech | DLF | Parsvnath | Ansal |