Realty shares rise on positive outlook; Oberoi, Godrej, Sobha gain up to 9%

Shares of real estate companies rallied up to 9 per cent on the BSE on Monday on positive outlook. Oberoi Realty, Godrej Properties, Sobha, Indiabulls Real Estate, DLF, Prestige Estates Projects and Macrotech Developers (Lodha) surged between 3 per cent and 9 per cent on the BSE in intra-day trade today.

At 01:05 pm, the S&P BSE Realty index, the top gainer among sectoral indices, was up 4.7 per cent, as compared to a 0.59 per cent rise in the S&P BSE Sensex. The realty index, however, is down 9 per cent from its 52-week high level of 4,383,