Real estate shares in focus; Prestige Estates, Oberoi Realty up over 5%

Nifty Realty index, the largest gainer among sectoral indices, was up 2%, as compared to a marginal 0.07% rise in the Nifty 50 index at 12:05 pm.

Shares of real estate companies are in focus, with Nifty Realty index gaining 2% on Friday, on hopes that liquidity may ease in the coming days after the Reserve Bank of India (RBI) on Thursday relaxed rules for non-banking financial companies (NBFCs).

Prestige Estates Projects and Oberoi Realty were up 8% and 6%, respectively, on the National Stock Exchange (NSE). Indiabulls Real Estates, Godrej Properties, Sobha, Kolte-Patil Developers Brigade Enterprises and Sunteck Realty gained 1% to 4%.

At 12:05 pm; Nifty Realty index, the largest gainer among sectoral indices, was up 2%, as compared to a marginal 0.07%