Realty firms lead gainers pack in early trade ahead of Budget

Realty firms lead gainers pack in early trade ahead of Budget
PTI
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First Published: Mon, Jul 06 2009. 11 18 AM IST
Updated: Mon, Jul 06 2009. 11 18 AM IST
Mumbai: Realty stocks Monday led the gainers pack in morning trade on the Bombay Stock Exchange and jumped over 6%, amid expectations that the Budget would give special attention to affordable housing.
The country’s largest realty developer DLF surged to Rs357.25, up 6% over its previous close and was the largest index wise gainer.
The sector enthused investors on increased anticipation that the government would provide incentives to the sector for affordable housing in the Budget and encourage buyers by doubling exemption limit on interest paid on housing loans to Rs3 lakh.
Other major realty firms rose in the range of 2-5% led by Mahindra Life Space, which gained 6.49% and rose to a high of Rs288 on the BSE.
Unitech gained 2.86% at Rs86.05 and Indiabulls Realestate was up 2.90% at Rs222.90 and Housing Development Infrastructure touched a high of Rs245.50, up 2.33%.
After opening firm, the 13-share BSE realty index witnessed a high of 3,523.16 points, up 2.56% over previous close.
Other major gainers on the realty index include Omaxe 3.78%, Parsvnath 3.36% and Sobha Developers 1.83%.
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First Published: Mon, Jul 06 2009. 11 18 AM IST