Realty shares rally up to 8%; Sobha, Lodha, Godrej, Prestige hit new highs

Sobha share price hit a new high of Rs 2,220 as it rallied 8 per cent after the company's board approved the offer and issuance of equity shares for Rs 2,000 crore through a rights issue

Shares of real estate companies continued at their northward movement on Thursday with the Nifty Realty index gaining over 2 per cent on the National Stock Exchange (NSE) in the intraday trade, on a healthy growth outlook.

Sobha, Macrotech Developers (Lodha), Godrej Properties, and Prestige Estates rallied between 3 per cent and 8 per cent today, and were trading at their respective new highs. DLF, Brigade Enterprises, and Oberoi Realty from the index, too, were up in the range of 1 per cent to 2 per cent.

At 10:19AM, the Nifty Realty index was the top gainer among sectoral indices, and was