Realty firms find takers despite slowdown

Even though the real estate sector is slowing down, some companies are still finding takers. Mumbai-based real estate developer Akruti City surged close to 12% at Rs 908. Some market men say what is making the stock attractive is the comfortable liquidity position of the company, due to which the company may not be impacted like its peers, coupled with low-floating stock in the market. The BSE Realty index is down nearly 13% in the past one week and 20% in the past one month, while Akruti is up 10% and 28%, respectively.

Further, they add that the stock has been witnessing support from close quarters, some of the prominent among them are a leading diversified domestic brokerage and a smaller unlisted domestic brokerage, which is calling it a technical buy.

News Published Under:   Real Estate Developers |

Comments