HDFC Bank was the top loser in the Sensex pack, falling 2.99 per cent, followed by Adani Ports at 2.87 per cent.
The sector has been going through a slowdown.
RARE Enterprises purchased 12.50 lakh shares of D B Realty at an average price of Rs 90.21 apiece.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period. Mayank Mehra, smallcase, manager and principal partner at Craving Alpha,believes that strong economic growth prospects, attractive valuations, and government reforms could support foreign investment flows in the next month.
All the sectoral indices, led by oil and gas, metals realty and banking, were trading in the negative zone.
Realty sector is facing a huge slowdown for last 3-4 years, leading to a significant delays in possession of flats to customers.
There are early signs of demand pick-up in the sector, but a lot depends on pricing and the demand for housing during the festival season.
With the Budget just a little over a week away, the Indian realty sector has lined up its wish-list which include a tax holiday under Section 80-1B for affordable housing, promoting real estate mutual funds and clarity on introduction of a real estate regulator, among others.
Banking, realty, energy and capital goods stocks were the major gainers today. The Sensex touched a high of 15,106, and finally ended with a gain of 551 points at 15,050. The BSE Realty index soared 7.3% (367 points) to 5,367, and the Bankex zoomed 6% (425 points) to 7,447.
The market breadth was fairly bullish - out of 2,776 stocks traded, 1,736 moved up, 971 declined and the rest were unchanged on Monday. The BSE Realty index surged 5.3% to 5,799. The Bankex advanced over 4% to 7,702, and the Oil & Gas index surged 3% to 10,437. The NSE Nifty moved up 91 points to end at 4,620.
Developers' cost would go up with the wait to get all approvals before starting project.
Markets regulator Sebi on Friday imposed a fine of Rs 2 crore on Saradha Realty, its chief Sudipta Sen and two directors, Hemanta Pradhan and Monoj Kumar Nagel, for failing to comply with its earlier directions to wind up illicit money-pooling schemes and refund the investors.
The commercial exploitation will partially fund the Rs 5,300 crore Mumbai Urban Transport Project-II which envisages improvement in the suburban rail transport system.
The sharp rally in the markets thus far in fiscal 2023-24 (FY24) has left analysts struggling to find investment-worthy themes. The S&P BSE Sensex has surged nearly 7 per cent thus far in FY24 and hit a fresh 52-week high of 63,601.71 levels on June 22, mostly led by foreign institutional (FII) flows. "The Indian market has seen a broad rally in the past few months but headline indices have seen more modest performance. "We are not very clear about the reasons for the rally and the divergent performance and struggle to find ideas in the consumption, investment and outsourcing sectors after the sharp run-up in several of our favored sectors and stocks in the past two months," wrote Sanjeev Prasad, co-head, Kotak Institutional Equities, in a recent co-authored note with Anindya Bhowmik and Sunita Baldawa.
Look at reaping the first-mover advantage by possessing lands in AP's newly-announced capital city.
DLF opened on a weak note in the Bombay Stock Exchange on Monday at Rs 500.05 and then declined further and hit an intra-day low of Rs 488.60, a 6.43 per cent fall from its previous close. The realty major was quoted at Rs 490, down 5.76 per cent at 10.41 am and over 3.54 lakh shares exchanged hands on the BSE.
The real estate sector may be passing through a period of stress, but the long-term outlook continues to be positive, despite the terrorist attacks on Mumbai or the liquidity crunch.
With markets getting back their mojo after four months, small- and mid-cap shares raced ahead of large caps in April. The Nifty Smallcap 100 index surged 7.5 per cent - its biggest monthly advance in 10 months - and outperformed the benchmark Nifty 50 index by 350 basis points. The Nifty Midcap 100 index soared 5.9 per cent, most since August.
The Reserve Bank on Tuesday asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of 'innovative' housing financing schemes.
Domestic equity markets, which are at record high levels, will be driven by quarterly earnings, global trends and foreign fund movement, analysts said. The movement of rupee and global oil benchmark Brent crude will also be tracked by investors. "The direction of global stock markets, fluctuations in the rupee-to-dollar exchange rate, and movement in crude oil prices will all play a crucial role in influencing the overall market trend.
The first voice by the new government clearly indicates growth and fiscal consolidation and that tells we are in a bull run for a long time.
R'Bonney Gabriel, the first Filipino American to win the Miss Universe title, visited New York's Empire State Building on Tuesday, January 17, 2023.
The Nifty ended up five points at 5,289.
D B Realty's share price went up by nearly 10 per cent to close at Rs 125.20 on BSE.
Cement and steel prices have shot up sharply in the past four months, with steel prices rising 10 per cent and cement increasing 34 per cent since January.
Consultants said the fact that Oberoi had no debt on its books and Kalpataru had low debt helped the two in the slow realty market.
Signalling bounce back of the real estate sector after a prolonged slowdown, developers including Supertech and Ansal API, announced investments of nearly Rs 8,000 crore on projects over the next four years.
The NSE Nifty ended at 4,238, down 1 point. The market breadth was extremely positive -out of 2,816 stocks traded approx 87% (2,470) advanced while only 11% (316) declined. The rest were unchanged.
Mumbai's realty sector, which is slowly recovering from the financial slowdown, is set to receive a major boost. At least 100 million sq ft of additional floor space, valued at `1 lakh crore, will be available immediately for the redevelopment of 19,000 old and dilapidated buildings, slums, fishermen colonies and other structures situated in the Coastal Regulation Zone.
DB Realty Ltd is taking aggressive steps to come out of the shadows of the second generation telecom spectrum scam.
While office and mall properties enjoyed revival and saw some big PE deals, residential real estate was hit by double whammy - stagnating prices and demonetisation
Some banks are camouflaging their lending to small, unknown real estate developers to skirt stringent capital adequacy and provisioning requirements.
But the Robert Vadra firm, which held luxury apartments in top DLF projects, sees income and profits dry up since FY11.
Raghavendra Kamath and Ashutosh Joshi spoke to Kushal Pal Singh on the growth of Indian realty story and issues surrounding it.
Supertech is just one among the many real estate players returning to commercial projects.
Though the Indian realty market lacks transparency and liquidity of the more mature western markets, it is changing fast in response to demands of multinationals, according to a report by consultants, Jones lang Lasalle.
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