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Realty stocks gain in weak market

August 20, 2010

Realty counters posted decent gains in Friday trade, pushing the realty index up 1.8 percent in a weak Mumbai market that closed 53 points lower.

Sobha Developers topped the index with gains of 4 percent, followed by DLF, India’s top listed realty firm, which closed 3.55 percent up. Unitech shares ended 1.5 percent higher.

DLF recently reported quarterly net profit rose 3.8 percent helped by a revival in demand, while Unitech said consolidated Apr-June net was up 14 percent.

The realty index has gained 15.6 percent since July, with stocks like Unitech and DLF rising 14.1 percent and 15.4 percent respectively.

Would you invest in one of these counters now?

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