Realty stocks are likely to remain subdued for a long time, especially those with exposure to the residential segment due to the persisting weak conditions this year. At around 11.45 am on Tuesday, HDIL was down 6.76 percent and Unitech was trading 6.67 percent. Other real estate stocks such as Indiabulls, DLF, Oberal Realty and Sobha were also trading with losses.
The BSE Realty index was down 1.60 percent in comparison to BSE Sensex's 0.47 percent.
After witnessing a 17 percent fall in new launches during the first six months (H1) this year, the segment could see sluggish conditions to stay for some more time, despite hopes of improvement in sentiments. ... The fall was sharper in IT city Bengaluru, at 23 percent when compared to the corresponding period last year (January-June 2016). The new launches at 13,400 units were next to Mumbai's 14,000 units and were mostly confined to Yelahanka, Devanahalli, Ranchenahalli and Kogilu "catering to the higher demand from IT employees of the city," the consultancy said.