Realty stocks surge on hopes of demand increase

Realty stocks surge on hopes of demand increase

Mumbai: Shares of real estate developers began 2017 on a strong note, with the S&P Realty index gaining the most in over eight months, on hopes that the government's sops towards the housing sector and banks cutting rates would boost demand.

However, analysts are not enthused by the spike in the stock prices. According to them, the PM's sops will not materially impact most listed realty firms. Demand scenario is still in the doldrums, analysts said, adding that companies, such as Oberoi RealtyBSE -0.58 % and Sobha, would be outliers in the space going ahead.

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