Nifty Realty on track for best day in near two weeks

Kolte-Patil Developers

14/12/2022 08:39

** Nifty Realty  .NIFTYREAL  rises nearly 1.8%, on track for
best day since Dec. 1
    ** Nifty Realty top sector gainer in the day's session
    ** Nine of the 10 constituents of the index advance, with
Phoenix Mills  PHOE.NS , DLF  DLF.NS  and Indiabulls Real Estate
 INRL.NS  advancing over 2%
    ** "Moderation in rate hike cycle and inflation, in the U.S.
and its implications on rates in India will have positive
near-term impact on the sector", says AK Prabhakar, head of
research at IDBI Capital
    ** The impact (due to moderation in rate hikes) may not be
long-term as real estate loans are different from car loans with
shorter tenures: Prabhakar
    ** Prabhakar picks DLF (healthy landbank), Oberoi Realty
(presence in Mumbai and Delhi)  OEBO.NS , Prestige Estate
(presence in southern region)  PREG.NS , Kolte-Patil (upbeat
revenue guidance)  KOLT.NS  and Phoenix Mills as stocks that
could perform well in the near term
    ** The sector, which is recovering from a decade-long lull,
will likely benefit from strong balance sheets of the companies,
and budget announcements in the near term, analysts say 
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))