Reality sector stocks are trading lower with CRISIL Research’s report that even as the latest GST cut on under-construction housing projects is expected to increase demand, real estate developers may see mixed results
Sobha is currently trading at Rs. 430.20, down by 10.65 points or 2.42% from its previous closing of Rs. 440.85 on the BSE. The scrip opened at Rs. 445.00 and has touched a high and low of Rs. 445.00 and Rs. 427.30 respectively. So far 2751 shares were traded on the counter.
Prestige Estate Projects is currently trading at Rs. 201.05, down by 9.65 points or 4.58% from its previous closing of Rs. 210.70 on the BSE. The scrip opened at Rs. 209.60 and has touched a high and low of Rs. 209.60 and Rs. 198.80 respectively. So far 4513 shares were traded on the counter.
DLF is currently trading at Rs. 164.00, down by 4.15 points or 2.47% from its previous closing of Rs. 168.15 on the BSE. The scrip opened at Rs. 165.50 and has touched a high and low of Rs. 167.80 and Rs. 162.20 respectively. So far 167993 shares were traded on the counter.
CRISIL Research also said that with the decline in the overall transaction, the margins of developers may not see any improvement as construction costs would escalate in view of withdrawal of input tax credit (ITC) and prices under pressure. But, on the liquidity front, the developers will be in a relatively better position as sales pick up at a slow rate.
