Business

Real estate shares in focus; HDIL hits fresh 52-week high

Shares of real estate companies were trading higher on the bourses on media reports that the Union government cleared amendments to the Real Estate (Regulation and Development) Bill, 2013, paving the way for legislation on regulators for the sector. CLICK HERE TO READ FULL REPORT.

Housing Development & Infrastructure (HDIL), Unitech, Indiabulls Real Estate, Sobha, Delta Corp, Parsvnath Developers, Kolte – Patil Developers, DB Realty and Oberoi Realty were up 2%-8% on the National Stock Exchange (NSE).

HDIL has rallied 8% to Rs 139, also its fresh 52-week high on the NSE. In past three trading sessions, the stock of real estate developer zoomed 35% from Rs 104 on April 1, after the foreign investor Merrill Lynch hiked its stake in the real estate developer through the open market.

On April 6, 2015, Merrill Lynch Capital Markets Espana S.A.SVB bought an additional 5.81 million shares representing 1.4% stake in HDIL at price of Rs 115.26 per share on the NSE, the bulk deal data shows.

Among the other individual stocks, Unitech has surged 7% at Rs 18.35, followed by Indiabulls Real Estate and Sobha, which gained 4% each at Rs 73 and Rs 416 respectively. Delta Corp up 3% at Rs 85, while Oberoi Realty up 2% at 305 and DLF by 1% at Rs 164 on the NSE.

At 1113 hours, CNX Realty index was up 2.6% compared with 0.47% rise in the CNX Nifty. S&P BSE Realty index too, up nearly 3% at 1,817 against 0.5% gain in S&P BSE Sensex.