 "Realty shares gain after Cabinet approves Real Estate Bill 2015")
Shares of real estate companies were trading 1-3% higher after the Cabinet on Wednesday announced some amendments and approved the Real Estate (Regulation and Development) Bill, 2015.
The Realty indices on both the Bombay Stock Exchange and National Stock Exchange were among the top gainers. The BSE Realty Index was up 1.1% while the Nifty Realty index was up 1.4%.
Among the stocks in the sector, DLF was up nearly 1%, HDIL was up 1.6%, Ashiana Housing rose 1.6%, Phoenix Mills gained 2.4%, Unitech surged 2.8% and Prestige Estates jumped nearly 3%.
The Bill will now be taken up for consideration and passing by the Parliament. In a statement the government said that the Bill will provide uniform regulatory environment to ensure speedy adjudication of disputes and orderly growth of the real estate sector.
