| Most real estate stocks including Unitech, Indiabulls Real Estate, Sobha Developers, Ansal Properties, Parsvnath Developers, Akruti Nirman, among others, shot up in morning trade, but profit booking during the latter half of the day brought down the stock prices below Monday's level at close. |
| Unitech, which ended higher by 4.74 per cent or Rs 20.05 to Rs 443.45, was the only notable gainer on Tuesday, while Indiabulls Real Estate (down 3.84 per cent to Rs 351.40), Sobha Developers (down 1.12 per cent to Rs 854.85), Parsvnath Developers (down 1.19 per cent to Rs 308), Ansal Properties (down 3.54 per cent to Rs 273.75), Orbit Corp (down 3.92 per cent to Rs 196) and Akruti Nirman (down 4.22 per cent to Rs 382.40) slipped on heavy profit booking in closing hours. |
| Analysts, however, feel that the recent fall in prices, make some of the real estate stocks an attractive investment opportunity for investors. |
| Suman Memani of Emkay Securities anticipates a bright future for the real estate sector, considering the investments that are being made in commercial real estate. "Residential sector will still take some time to normalise. It may see a bit of a slow down," he said. |
| The fact that the Reserve Bank of India has reduced risk weight on home loans of less than Rs 20 lakh from 75 per cent to 50 per cent is also another positive factor. |
| All the real-estate stocks were on fire in morning trade on heavy buying from investors. Indiabulls Real Estate hit a high of Rs 384.80, up 5.29 per cent from previous close, earlier in the day, before profit booking pulled the prices down by close. Similar situation was witnessed in other counters as well. |
| For instance, Sobha Developers was trading at about 3 per cent high from Monday at Rs 889, while Ansal Properties was trading at Rs 294.35, up by 3.71 per cent from previous close, in early trading on Tuesday. |
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