Market Eye: Real estate shares rise on expectations of pick-up

Shares in real estate companies were up on expectations of a pick-up in deal flows and a fall in interest rates, which would benefit both builders and real estate buyers, dealers said.

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For the companies, this would mean low-cost funds, earlier repayment of debt, resumption of construction activities and increase in sales. Separately, there was buying interest in certain stocks, the dealers said.

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At 2.02 p.m, stocks of Housing Development and Infrastructure Ltd (HDIL), Puravankara Projects, Oberoi Realty and Unitech Ltd were up 4.5-10 percent, in Mumbai market that was down 0.4 percent.

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