Sunday, February 15, 2009

Realty stocks surge amid interim budget announcement



Mumbai, Feb 16 (PTI) Shares of realty firms today shot up significantly following major emphasis of the interim budget on real estate and hospitality sectors.
Real estate major DLF surged to a high of Rs 176.70, up 4.42 per cent in the pre-noon trade on the Bombay Stock Exchange.

While, Unitech advanced over three per cent to Rs 32.90 following the announcements of the interim budget by stand-in Finance Minister Pranab Mukherjee in Parliament.

Mahindra Lifespace was the biggest gainer and zoomed up as much as 37 per cent to Rs 169 in the intra-day trade.

Sobha Developers gained as much as 5.57 per cent, Parsvanath Developers rose 7.19 per cent, Omaxe (7.76 per cent) and HDIL (4.91 per cent) on the BSE.

The 14-share BSE realty index gained 3.68 per cent at 1,650.88 points following the movement of the heavyweight realty stocks. PTI

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