Realty index surges 4%; Oberoi Realty hits record high, Phoenix Mills up 8%

GIC, Singapore's sovereign wealth fund and Phoenix Mills, have entered into a strategic partnership to establish an investment platform for retail‐led mixed‐use assets in India

Shares of real estate companies were in focus on Thursday with the S&P BSE Realty and the Nifty Realty indices ralling 4 per cent each on the bourses in intra-day trade.

Individually, Oberoi Realty, Phoenix and Prestige Estates surged between 6 per cent and 10 per cent on the BSE while Indiabulls Real Estate, Sunteck Realty, Sobha, DLF and Godrej Properties gained in the range of 2 per cent to 5 per cent. At 01:18 pm, the S&P BSE Realty and the Nifty Realty indices were up 4 per cent each as compared to less than a per cent