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Monday, December 23, 2024 | 12:05 PM ISTEN Hindi

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Bull run to continue for realty shares, analysts advise buying the dips

After a sharp rally in FY24, which has seen the Nifty Realty index soaring more than 128 per cent against a 26.7 per cent jump in the Nifty 50, any correction in the shares provides good buying opport

Real estate
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Shivam Tyagi New Delhi

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Shares of realty firms have retreated on the bourses recently in line with the correction in the broader markets. Real estate developers Sunteck Realty, Sobha Ltd and Brigade Enterprises have plunged 14 per cent, 10 per cent and 7 per cent, respectively, on a month to date (MTD) basis. Others such as Godrej Properties, Mahindra Lifespaces and DLF have shed 5-8 per cent.

At the index level, Nifty Realty too is down 2.3 per cent MTD against a 0.9 per cent decline in the benchmark Nifty 50.

Analysts, however, maintain optimism on the sector and suggest using the current weakness

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