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Realty stocks lead late recovery at BSE

Realty stocks lead late recovery at BSE
PTI
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First Published: Wed, Jul 18 2007. 05 58 PM IST
Updated: Wed, Jul 18 2007. 05 58 PM IST
Mumbai: Realty stocks led the late recovery on the bourses on 18 July after reports that real estate major DLF Ltd has bagged a Rs6,000-crore project from Delhi Development Authority, helping the benchmark Sensex to close in a positive zone.
BSE Realty segment index continued its upward march and gathered another 128.68 points, or almost 1.5% at 8,077.67.
Market observers said expectations that the Reserve Bank of India might not hike interest rates in its credit review later this month also generated buying at realty counters.
DLF stocks remained in keen demand throughout the session after reports that the company bagged a Rs 6,000-crore project from Delhi Development Authority for design, development and operation of an international convention centre to be developed in Dwarka, New Delhi.
Stocks of DLF rose Rs35.25, or nearly 6%, at Rs645.40 on the Bombay Stock Exchange.
Other realtors like Sobha Developers rose Rs24.50 at Rs929.80, Mahindra Gesco by Rs13.60 to Rs558.10, Akruti Nirman by Rs22.45 at Rs539.20, Anant Raj by Rs12.85 at Rs1334, Penland by Rs5.65 at Rs479.30 and Parsvnath by Rs2.65 at Rs367.75.
However, Indiabull Real lost Rs12.80 at Rs581.45, Unitech Ltd down Rs4.50 at Rs549.15, Ansal Infra shed Rs2.60 at Rs296.80 and Phoenix mill drifted by Rs4.85 at Rs2,042.95.
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First Published: Wed, Jul 18 2007. 05 58 PM IST
More Topics: Realty stocks | DLF | Money Matters | Equities |