 "Realty shares rally; CNX Realty index surges over 4%")
Shares of real estate companies have rallied by up to 11% on the bourses on reports that the Real Estate (Regulation and Development) Bill, 2013 is likely to come up for consideration in Rajya Sabha in the forthcoming Winter Session.
Unitech, Housing Development and Infrastructure (HDIL), Indiabulls Real Estate, Oberoi Realty, DLF, D B Realty and Anant Raj Industries are up 4-11% on the National Stock Exchange (NSE).
The NSE CNX Realty index, a gauge of real estate companies, has rallied 4.3% compared to 1.2% rise in benchmark CNX Nifty at 1200 hours.
The Housing and Urban Poverty Alleviation Ministry has called a meeting of all concerned on September 19 to discuss the issue, a PTI report suggests. The bill is crucial for paving way for construction of a large number of affordable houses and is slated to come up in the Rajya Sabha during the Winter Session of Parliament, it adds.
Among individual stocks, Unitech has surged 11% to Rs 25.90 on NSE. The stock opened at Rs 22.90 and touched a high of Rs 25.90 so far. A combined 70 million shares already changed hands on the counter till noon deals against an average 50 million shares that were traded daily in past two weeks on NSE and BSE. HDIL and Indiabulls Real Estate surged 7% to Rs 91.70 and Rs 69.05 respectively. DB Realty, DLF and Oberoi Realty are up 4% each.
Unitech, Housing Development and Infrastructure (HDIL), Indiabulls Real Estate, Oberoi Realty, DLF, D B Realty and Anant Raj Industries are up 4-11% on the National Stock Exchange (NSE).
The NSE CNX Realty index, a gauge of real estate companies, has rallied 4.3% compared to 1.2% rise in benchmark CNX Nifty at 1200 hours.
The Housing and Urban Poverty Alleviation Ministry has called a meeting of all concerned on September 19 to discuss the issue, a PTI report suggests. The bill is crucial for paving way for construction of a large number of affordable houses and is slated to come up in the Rajya Sabha during the Winter Session of Parliament, it adds.
Among individual stocks, Unitech has surged 11% to Rs 25.90 on NSE. The stock opened at Rs 22.90 and touched a high of Rs 25.90 so far. A combined 70 million shares already changed hands on the counter till noon deals against an average 50 million shares that were traded daily in past two weeks on NSE and BSE. HDIL and Indiabulls Real Estate surged 7% to Rs 91.70 and Rs 69.05 respectively. DB Realty, DLF and Oberoi Realty are up 4% each.