Realty Index hit a new 10-year high, as construction companies’ shares soar up to 15 per cent

With the economy being coming back to normalcy and business being opening up, the realty companies have started picking up demand. In this regard, the shares of real estate companies were on a roll with the BSE Realty index hitting an over 10-year high on the BSE intraday trade on Monday.

At around 01:05 pm, the S&P BSE Realty index hit a day’s high soaring above 4 per cent to 3040.82 levels intraday as compared to a 0.4 per cent gain in the S&P BSE Sensex. Being the top gainer among sectoral indices, the realty index hit its highest level since December 2010 today

Individually, Indiabulls Real Estate closed over 15 per cent higher to Rs 138.35, and also touched its 52-week high of Rs 140 per share on the BSE amid three-fold jump in trading volumes. A combined 54 million equity shares changed hands on the counter on the NSE and BSE so far intraday today.

Similarly, Macrotech Developers (Lodha) also hit a new high of Rs 814.90, after zooming for 6 per cent on the BSE intraday trade today. The counter soared 23 per cent in the past three sessions as amid its pre-sale's growth of 88 per cent YoY at Rs 957 crore relative to Rs 509 crore a year ago.

Besides, Mahindra Life Spaces too hit a new life high to Rs 684 per share after rallying for over 11 per cent on the BSE intraday trade today, however, the scrip closed Rs near 8 per cent higher to Rs 659.7 per share on the BSE Monday.

While Sunteck Realty ended jumped almost 5 per cent to Rs 348.6 per share, followed by DLF near 4 per cent higher to Rs 311 per share on the BSE Monday. Other stocks such as Oberoi Realty, Sobha, Prestige, Brigade, and Godrej Properties have surged between 2-3 per cent on the BSE.