Real Estate Stocks Gain New High After Tuesday’s Rally

July 4, 2007	(Be the first to rate this story!)  Loading ...
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Indian shares are reaching to new highs pushed by profits in construction and real estate stocks.

The Bombay Stock Exchange’s 30 share Sensex Index increased by 142 points, to end at 14,807 points. Taking the view at the National Stock Exchange, the 50-company S&P Nifty Index increased by the same margin to close at 4,358 points.

The Sensex gained 47 percent in 2006 and rose to 8 percent in 2007 to date.  Thanks to the cross-border investments in Indian economy.

The Indian economy has been making rapid strides and is expected continue with the same pace in wake of its booming sectors including property market the first. Its growth is likely to grow 8.5% in the current fiscal year ending March, 2008.

Rising per capita income is contributing to a surge in demand for almost everything from cars to houses, boosting corporate profits.

Leading the Tuesday’s rally, construction companies and real estate stocks have come up in a brilliant way.

Unitech Ltd. rose 3.5 per cent to 539 rupees, whereas Ansal Properties and Infrastructure Ltd. climbed steadily through the day to touch 323 rupees. Realty major Larsen and Toubro Ltd. rose 1.1 percent to close at 2,259 rupees and Hindustan Construction Company ended 5 percent higher at 132 rupees.

News Published Under:   Real Estate India, Banking and Finance |

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