September 3, 2018 / 9:12 AM / a year ago

BUZZ-India's realty, related stocks hit by court ban in some states

** India’s real estate and related sectors were hit after reports said the top court has banned construction activities for over a month in states - that have not framed a solid waste-disposal policy - like Maharashtra, Madhya Pradesh and Uttarakhand

** Nifty Realty index falls as much as 1.9 pct before erasing losses, with DLF Ltd losing the most - down as much as 4 pct

** Unitech Ltd falls as much as 2.5 pct and Indiabulls Real Estate sinks as much as 3 pct

** Ultratech Cement Ltd down 1.4 pct, Ambuja Cements Ltd nearly flat

** A prolonged blanket ban on construction activities will hurt firms like Oberoi Realty Ltd, Godrej Properties and Sunteck Realty Ltd, apart from ongoing infrastructure projects - Kotak Institutional Equities analysts write

** The Supreme Court on Friday banned all construction activities until Oct. 9 in some states and centrally administered territories, and imposed fines for not framing a policy in solid waste management norms, media reports said

** Morgan Stanley analysts say ban to affect steel and cement demand near term; ACC Ltd, Ambuja and Ultratech will see greatest impact

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