Nifty Realty index down 5%; HDIL tanks 23% intra-day

Shares of real estate companies were under pressure with Nifty Realty index down by nearly 5% on the National Stock Exchange (NSE) in late noon deals. Housing Development and Infrastructure Limited (HDIL), Indiabulls Real Estate, DLF and Unitech from Nifty Realty index were down more than 5% each.

At 03:03 pm; the Nifty Realty index was down 4.8% as compared to 0.77% decline in Nifty 50 index.

HDIL has tanked 23% to Rs 53.40, extending its 17% fall in past two trading sessions, after the real estate developer on Thursday, August 3, said that the National Company Law