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Realty stocks weak in firm mkt

February 17, 2010

INDIA

Realty stocks had a weak trading day on Wednesday with the sectoral index slipping 1 percent, even as the Sensex gained over 200 points tracking positive global cues.

Indiabulls Real Estate slipped 3.3 percent and was the top sectoral loser, while DLF and Unitech lost 1.3 percent and 0.7 percent respectively.

Shares in Anant Raj Industries gained 2.8 percent, making it the top gainer in the realty index.

A recent newspaper report quoting CLSA said the time was ripe to build exposure to real estate stocks, post the Reserve Bank of India’s step to take away money from banks and a lesser-than-expected rush to raise money from the primary market.

The index has fallen 3.7 percent this month. Do you think this is the right time to invest in these counters?

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