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:
  • Most Popular
  • Most Shared

Insight

REUTERS SHOWCASE

Border Talks

Border Talks

India names Ajit Doval as special envoy for China border talks.  Full Article 

WTO Deal

WTO Deal

U.S. seeks to step up India trade talks  Full Article 

Phone Masts

Phone Masts

American Tower to buy Bharti Nigeria phone masts for $1.1 billion  Full Article 

Infrastructure Plan

Infrastructure Plan

India targets private cash to build railways to its ports.  Full Article 

Shadow Banking

Shadow Banking

Reserve Bank planning more measures for NBFCs.  Full Article 

Auto Sector

Auto Sector

Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets  Full Article 

Oil Prices

Oil Prices

Some fund managers see oil falling to $60 without OPEC cut.  Full Article 

Project Shelved

Project Shelved

Jindal Steel shelves $10 bln project after coal setback.  Full Article 

Market Eye

Market Eye

Sensex, Nifty rise to record after China, ECB stimulus boosts risk appetite.  Full Article 

Reuters India Mobile

Reuters India Mobile

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