India's realty stocks fall after budget fails to meet expectations

The Phoenix Mills

01/02/2024 10:06

** Shares of Indian realty stocks  .NIFTYREAL  fall between
1% and 4%
    ** "Key expectations of the real estate sector, including
rationalization of indirect taxes, were not referred to in the
budget speech," Mahaveer Jain, director of India Ratings and
Research said
    ** Phoenix Mills's  PHOE.NS  3.7% fall is the most on the
index; Prestige  PREG.NS  and Sobha  SOBH.NS  down 2.1% each
    ** Godrej Properties  GODR.NS , Brigade Enterprises
 BRIG.NS , Oberoi Realty  OEBO.NS , and Mahindra Lifespace
 MALD.NS  all down ~1% each
    ** Nifty realty index fell as much as 1.7% during the day
before paring some losses; last down 0.7%

    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))