Property stocks gain on festival booking hopes

Tue Nov 6, 2012 4:05pm IST

Buildings under construction are seen along the Mumbai skyline November 23, 2008. REUTERS/Arko Datta/Files

Buildings under construction are seen along the Mumbai skyline November 23, 2008.

Credit: Reuters/Arko Datta/Files

Related Topics

Stocks

   

Reuters Market Eye - Property firms such as HDIL gain on hopes for a pickup in demand tied to the Diwali festival season in mid-November, a time considered auspicious in the country.

"Real estate stock valuations are cheap, huge difference between stock valuations and project valuations, festive demand is tepid but prices are not falling," said Hiten Gala, a senior manager advisory at Brokerage Sharekhan, listing reasons for the rally.

HDIL surges 6 percent, DLF (DLF.NS) gains 1.9 percent while Indiabulls Real Estate is up 3.6 percent.

(Reporting by Rafael Nam)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

School Shooting

School Shooting

Two killed, four wounded in Washington state school shooting.  Full Article 

Sundar Pichai Elevated

Sundar Pichai Elevated

Google's Pichai to oversee major products and services.  Full Article 

Need For Reforms

Need For Reforms

Euro zone risks "relapse into recession" without structural reforms - Draghi.  Full Article 

Diwali Sales

Diwali Sales

Gold sales jump about 20 pct for Diwali - trade body  Full Article 

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Wal-Mart India

Wal-Mart India

Murali Lanka appointed as Wal-Mart India operations chief  Full Article 

Health Of Lenders

Health Of Lenders

25 European banks set to fail health checks - sources.  Full Article 

Special Report

Special Report

Why Madrid's poor fear Goldman Sachs and Blackstone  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage