Realty stocks were outperforming other sectoral indices in noon trade on Thursday. The BSE Real Estate index was trading 1.44 per cent higher at 1588.94. Stocks such as NBCC (India) and Oberoi Realty were trading 10.26 per cent and 7.62 per cent higher at Rs 214.65 and Rs 299.95, respectively.
Oberoi Realty shares hit fresh 52-week high of Rs 316.
Other real estate majors such as Unitech, Prestige Estate, Omaxe and Godrej Properties were trading up by 3.46 per cent, 2.07 per cent, 1.62 per cent and 1.24 per cent, respecively.
Chandan Taparia, equity analyst, Anand Rathi Financial Services said, “Markets turn further positive towards the real estate sector after 7th Pay Commission. I believe one can consider DLF and Sobha for a return of upto 20 per cent in the next 3-6 months.”
Sobha Ltd, HDIL and DLF were up by 0.56 per cent, 0.19 per cent and 0.16 per cent.
However, Indiabulls Real Estate and Phoenix were trading in red at 12.07 pm.
Among other sectoral indices on BSE, Metal index and Healthcare index were up by 0.57 per cent and 0.53 per cent. On the other hand, IT and TECk index were down by 1.12 per cent and 0.98 per cent, respectively.