Realty Cos Back in Demand as Investors see Opportunity

Realty Cos Back in Demand as Investors see Opportunity
The Economic Times

Never mind the fact that the smartest of investors on Dalal Street lost a fortune on their investments in realty stocks when the market nose dived last year. Shares of property developers are back in demand with market operators, who feel there is a good trading opportunity in this segment for the next couple of weeks. First quarter numbers of most realty firms were dismal, and any improvement in the current quarter, could only be incremental, say brokers.

On their part, the bulls are peddling anecdotal evidence pointing to an improvement in demand and pricing power. Some of the early birds in the sector seem to be using the current frenzy to book profits. The fund manager of one of the largest long only India-dedicated funds, who shares his first name with the actor who played the role of Thakur in Sholay, is said have been cutting exposure to some of the realty stocks that he had picked up in March this year.