Equity Alert: Real estate shrs up on fund buying; BSE Realty up 4%
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K.Karthik Raja
Jun 17, 2008, 5:58:27 AM6/17/08
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Equity Alert: Real estate shrs up on fund buying; BSE Realty up 4%
Equity Alert: Real estate shrs up on fund buying; BSE Realty up 4%
MUMBAI--3:10PM--Real estate shares were up, led by value buying by
institutions after a sharp correction, dealers said.
BSE Realty Index was up 4% at 6104.57 led by gains in 3-8% rise in
Unitech, DLF, Indiabulls Real Estate, Parsvnath Developers, and Sobha
Developers.
Most realty shares are now trading at a 30-35% discount to their
net
asset value and long-term investors can review their decision and may
consider buying these stocks, analysts said.
The index has lost 55% since the beginning of this year on worries
of slowdown in realty prices, hardening interest rates, and difficulty
faced by developers to raise funds.
Despite today's rise, dealers advised caution, attributing today's
rise
partially to short covering in these oversold stocks.
Equity Alert: Real estate shrs up on fund buying; BSE Realty up 4%
MUMBAI--3:10PM--Real estate shares were up, led by value buying by
institutions after a sharp correction, dealers said.
BSE Realty Index was up 4% at 6104.57 led by gains in 3-8% rise in
Unitech, DLF, Indiabulls Real Estate, Parsvnath Developers, and Sobha
Developers.
Most realty shares are now trading at a 30-35% discount to their
net
asset value and long-term investors can review their decision and may
consider buying these stocks, analysts said.
The index has lost 55% since the beginning of this year on worries
of slowdown in realty prices, hardening interest rates, and difficulty
faced by developers to raise funds.
Despite today's rise, dealers advised caution, attributing today's
rise
partially to short covering in these oversold stocks.
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