India's realty index falls on concerns over sustenance of sales

The Phoenix Mills

06/03/2023 07:17

** Realty index  .NIFTYREAL  falls 0.5%, the only sectoral
loser among 13 major sectoral gauges
    ** Six of the 10 constituents of realty index decline with
Macrotech Developers  MACE.NS  losing 3%
    ** Our interactions with investors suggest lingering doubts
on sustenance of sales momentum in real estate sector, says JM
Financial
    ** Interplay of various factors like rise in home loan
rates, stamp duty normalisation in Maharashtra, price inflation
may lead to pressure, the firm adds
    ** JM Financial prefers DLF  DLF.NS , Macrotech Developers
 MACE.NS , Phoenix Mills  PHOE.NS  and Prestige Estates
 PREG.NS  in the sector
    ** Peak of the interest rate cycle might be a couple of
quarters away, so the sector remains in a wait-and-watch mode:
JM Financial

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))