Realty stocks witnessed a mixed trend at 10:56 IST on BSE after the Madurai Bench of the Madras High Court yesterday, 29 November 2017, directed the Tamil Nadu government to stop all sand quarrying activities within six months.
Sobha (up 6.22%), Prestige Estates Projects (up 1.95%), Brigade Enterprises (up 1.55%), HDIL (up 0.41%), Indiabulls Real Estate (up 0.31%), DLF (up 0.26%) and D B Realty (up 0.53%) edged higher. Puravankara Projects (down 2.32%), Vijay Shanthi Builders (down 2.11%), Oberoi Realty (down 1.68%), Godrej Properties (down 1.41%), Lancor Holdings (down 1.41%) and Unitech (down 0.33%) edged lower.
Meanwhile, the S&P BSE Sensex was down 227.05 points or 0.68% at 33,375.71. The S&P BSE Realty index rose 0.17%, outperforming the Sensex.
The Madurai Bench of the Madras High Court yesterday, 29 November 2017, directed the Tamil Nadu government to stop all sand quarrying activities within six months and ensure that no new sand mines are opened in the future.
The order also stated that the state should take measures to prevent illegal sand mining in Tamil Nadu. The Court felt that it was the state's responsibility to preserve natural resources and environment.
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