Budget 2022: Realty sector jumps almost 3% ahead of budget; Godrej Prop, Prestige, Phoenix top gainers - know what experts say
The Union Budget 2022-23 is scheduled to be presented on February 1 at around 11:00 am by finance minister Nirmala Sitharaman in the Parliament.
A day ahead of Budget 2022, the overall market showed strength, in this, the realty sector is one of the top gainers intraday on Thursday. The Nifty Realty index is up almost 3 per cent, with most of the stocks in the 10-share pack gaining above 2 per cent each at around 11:40 am on the NSE.
The Union Budget 2022-23 is scheduled to be presented on February 1 at around 11:00 am by finance minister Nirmala Sitharaman in the Parliament. It is speculated by most of the analysts that the government may make mega announcements for the infrastructure sector, which include realty too.
Individually, Godrej Properties, one of the market leaders, is gaining most nearly 4 per cent, followed by Prestige Estates and Phoenix Limited also up around 4 per cent on the NSE.
Other stocks in the list such as Brigade Enterprises gained over 3 per cent, while DLF and Oberoi Realty are each up around 2.5 per cent intraday on the NSE. Similarly, Sun Teck and Lodha also gained around 2 per cent each on the NSE, in a positive market today.
Meanwhile, Indiabulls Real Estate surged over 1 per cent and Sobha is trading flat with a positive bias on the NSE intraday.
Domestic brokerage firm Angel One in its Budget 2022 preview had said, “We expect infrastructure will continue to remain a key focus area for the government and we will see increased allocation to capital expenditure for the financial year 2022-23 (FY23).”
The brokerage also expects a continued focus on defense, railway, and road infrastructure, in addition to the National Infrastructure Pipeline is also possible in the budget.
It picks Oberoi Realty as perfect bet as Budget 2022 stock also sees positive for L&T and other infrastructure companies such as PNC Infratech, KNR Constructions among others.
Similarly, another domestic brokerage firm ShareKhan mentioned, “Positive for improving demand environment in housing sector/realty, which may have a direct impact on stocks such as DLF, Godrej Properties, Prestige Estates, Oberoi Realty, Brigade Enterprise among others.”
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