Shares of Godrej Properties (up 1.97 per cent), Prestige Estates Projects (up 1.65 per cent), Phoenix Mills (up 1.56 per cent) and Brigade Enterprises (up 0.75 per cent) were the top performers in the index.
DLF (up 0.49 per cent), Indiabulls Real Estate (up 0.22 per cent) and Sobha (up 0.17 per cent) too were trading higher.
The Nifty Realty index was trading 0.66 per cent up at 274.40 around 10:09 am.
Benchmark NSE Nifty50 index was down 6.10 points at 11,637.85 while the BSE Sensex was down 23.14 points at 38,853.98.
Among the 50 stocks in the Nifty index, 25 were trading in the green, while 25 were in the red.
Shares of YES Bank, Tata Motors, SAIL, Indiabulls Housing Finance, Bank of Baroda, Zee Entertainment, Ashok Leyland, SBI and Bharti Airtel were among the most traded shares on the NSE.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
1 Comment on this Story
Niveza Equity Research610 days ago
The Godrej Properties stock has surged today in line with its JV to construct a luxury housing project in Bandra suburb of Mumbai. The company has already achieved a remarkable sales amount in Q4FY19. Its 5 yearly ROE and ROCE are 10.81% and 8.06% respectively. On the basis of an overvalued TTM based P/E at 85.89x, the stock seems expensive. But on the account of its various ambitious upcoming construction contracts, the stock seems potential for medium and long term phenomenon.