Indiabulls Real Estate Dominates the Gainers in BSE’s ‘A’ Group.

Realty shares dominated the gainers in the ‘A’ group on the BSE today, 4 November 2009. The spurt in realty shares came mainly due to bargain hunting after these shares corrected sharply in the past few trading session. On Tuesday, 3 November 2009, the BSE Realty index had sharply underperformed the Sensex, falling 9.76% to 3453.63. The Sensex had fallen 3.09% to 15,404.94 on Tuesday. Realty developer Indiabulls Real Estate soared 15.76% to Rs 242.45. The stock had corrected 16.15% to Rs 209.45 on Tuesday, 3 November 2009. Indiabulls Real Estate topped the gainers in the BSE’s ‘A’ group.

E-learning solutions provider Educomp Solutions spurted 15.55% to Rs 825.05 as investors scrambled to buy stock after it corrected 24.10% in the preceding five sessions to Rs 714.05 on 3 November 2009, from a recent high of Rs 941 on 26 October 2009. The stock was the second biggest gainer in ‘A’ group. Stock broker Religare Enterprises flared up 12.60% to Rs 404 on reports the company plans to launch a $500 million (around Rs 2,350 crore) pan Asia private equity (PE) fund for emerging economies. The stock was the third biggest gainer in ‘A’ group.

According to reports, the fund would mainly invest in Southeast Asian markets such as Indonesia, Malaysia, Thailand, the Philippines and Singapore, and partly in India. The major focus areas for investments would be healthcare, diagnostic labs, hospital chains, financial services and consumer sectors. Delhi-based realtor Unitech jumped 10.04% to Rs 82.20. The stock had corrected 9.18% to Rs 74.70 on Tuesday, 3 November 2009. Unitech was the fourth biggest gainer in ‘A’ group. Mumbai-based realtor Housing Development & Infrastructure (HDIL) rose 10.03% to Rs 321. The stock had plunged 16% in the preceding three sessions to Rs 291.75 on 3 November 2009, from a recent high of Rs 347.45 on 28 October 2009. HDIL was the fourth biggest gainer in ‘A’ group.

News Published Under:   Real Estate India |

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