Nifty Realty index 33-month high; Indiabulls surges over 10%

Shares of real estate companies were in focus with the Nifty Realty index hitting 33-month high on the National Stock Exchange (NSE) in intra-day trade after a strong rally in Indiabulls Real Estate, Housing Development & Infrastructure (HDIL) and Godrej Properties. At 10:15 am; Nifty Realty index was the largest gainer among sectoral indices. It was up 3.7% at 261.80 as compared to 0.47% rise in the Nifty 50 index. The realty index hit an intra-day high of 262, its highest level since July 11, 2014 on NSE. The S&P BSE Realty index was up 4.5% against 0.44% gain in the S&P BSE Sensex. Thus far in the calendar year 2017, the realty index surged 59% as compared to 12% rise in the benchmark index.  Indiabulls Real Estate (up 14% to Rs 163), Godrej Properties (4% at Rs 489), DLF (3% at Rs 193) and Prestige Estate (2% at Rs 260) from the Nifty Realty index, Dilip Buildcon, Ajmera Realty and Hub Town from the non-index hit their respective 52-week highs on the NSE in intra-day trade.  Financial Astrology Tips




Indiabulls Real Estate zoomed 54% in the past six trading sessions after the company announced a business restructuring plan that will see the company splitting itself into two parts. A commercial entity wherein the company hopes to get a strategic investor in place to further develop the business and target doubling of rents in four years and a residential entity, which targets to cut its debt by more than half in two years, eventually reaching a zero debt/positive net cash position. Analyst at JP Morgan in recent report said “In the interim, if the company is able to transact a stake in its rentco, then it will help establish valuation benchmark for the rental company – very similar to what other property developers have done, and accelerate its overall debt reduction target”.  Astrology and Numerology Trading Tips