India’s stock markets have grown unanimously in this year with the key equity indices Sensex and Nifty rising about 30% in the last 12-month period. There have been many shares which have beaten these massive returns, and a few stocks which have outperformed in very quick successions. The real estate sector which saw a marginal drop after the note ban exercise last year had been growing in a better-than-expected manner in 2017, as far as the stock market performance is concerned. The benchmark Nifty Realty index had returned over 100% in the last one year with stocks such as Indiabulls Real Estate, Sobha, Godrej Properties, DLF rising up to 220%. We take a look at two such real estate sector stocks below Rs 25 which have risen up to 36% in the period of just 7 days.
Shares of Unitech and Jaiprakash Associates have been rising for more than a week time. The Stock of JP Associates rose as much as 36.36% to Rs 23.25 from Rs 17.05 in the last 7 days while shares of Unitech have risen 26.15% to Rs 8.2 from Rs 6.5 in the same time. Today only, Unitech shares jumped 11.56% to the day’s high of Rs 8.2 on NSE while the stock of JP Associates zoomed 8.89% to Rs 23.25 on NSE. Unitech shares have a year to date return of more than 120% while shares of Jaiprakash Associates had tripled in the last 12-month period. In the corresponding time, Nifty Realty index had surged 105% to 334.9 from a level of 161.5 last year while the index made an all-time high of 339.5.
Meanwhile, India’s stock markets opened little higher on Thursday with the benchmark indices Sensex and Nifty beginning in the green ahead of the expiry of F&O contracts today. BSE Sensex gained 17.05 points or 0.05% to start at 33,928.86 and NSE Nifty added 7.45 points or 0.07% to open at 10,498.2. Shares of Anil Dhirubhai Ambani Group’s telecom company RCom extended gains for the second consecutive session after the Chairman Anil Ambani presented a massive debt recast plan, in which he said that company’s overall debt will substantially reduce to Rs 6,000 crore from Rs 45,000 crore. The 30-share barometer Sensex made a day’s high of 33975.05, rising by 63.24 points and a day’s low of 33,883.62, falling by 28.19 points while Nifty tripped 4.5 points to touch a day’s low of 10,486.25 and inched up 25.15 points to a day’s high of 10,515.9.