Real Estate stocks become sky scrapers amidst SEBI's indication to relax norms

"When the going gets tough, the tough get going”, this proverb rightly resembles the vibes of realty sector of the country, in a scenario where the sector is going through a sluggish demand, the stocks seem to be in a different mood, as the four blue chip stocks on Friday, June 17 have gained over 4 per cent on an intraday basis.

Unitech Ltd., is the major gainer and has gained as much 13 per cent on an intraday basis as at 2.51 pm. Housing Development and Infrastructure Ltd., (HDIL) has gained as much as 7.31 per cent. DB Realty, Sobha Ltd., and Oberoi Realty are also amongst the major gainers. The shares of DB Realty, Sobha Ltd., and Oberoi Realty are up by 4.19, 5.39, and 4.44 per cent respectively.

The market regulator Securities Exchange Board of India popularly known as SEBI, on June 17 will further take a Board meeting to relax the rules governing the Real estate sector. The broader discussion will be on the relaxation of rules governing Real Estate Investment Trusts (REITs).

However, the Realty index on Friday June 17, on the news is in the green. It opened negative at the early morning trade at 1434.57. The index as at 3.18 pm is trading at 1478.41, up by 51.83 points,i.e. 3.49 per cent.