A maturing market amid the mayhem
Realty sector feels the heat
Indiabulls Real Estate, HDIL and Unitech slipped over 5 percent each and ended as the top losers in the index. Phoenix Mills was the only counter on the index that closed in the green.
Shares in DLF, India’s top listed realty firm, fell 3.7 percent.
Manish Kumar, head of investments at ICICI Prudential Life Insurance, told Reuters he was shying away from the real estate sector given its sharp rise and valuations that are pricing in significant increase in execution.
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