These companies' shares saw a tremendous jump!
After continuous selling and losses, today on march 3, the shares of realty companies saw a tremendous jump. With the increase in share prices, the Nifty Realty Index closed at 808 with a jump of about 1.3 percent. With this, there was a slight break in the decline that was going on for 5 consecutive days.
This company's stock benefited the most
The shares of Prestige Estates were the most profitable on the index, which rose by about 5 percent to reach Rs 1,179 per share. Let us tell you that after it was announced in the exchange filing on february 25 that income tax officials raided its registered office and other branches, the company's shares fell. Today, with the increase in the price of the shares, it helped to a great extent in reducing the earlier losses.
Their share price also increased
Godrej Properties' shares also rose during this period and it rose by more than 3 percent to reach Rs 2,000 per share. The biggest reason for the jump in the Nifty Realty Index was the increase in the share price. The company's shares have so far risen by about 6 percent from their 52-week low of Rs 1,901 per share on Monday. The company's shares are well below the 52-week high of Rs 3,403 per share. Meanwhile, DLF shares rose by about 2 percent to Rs 645.15 per share. Oberoi Realty shares rose by more than 1.85 percent.
These companies remained in loss
However, despite the rise in the realty index, not all stocks were trading in the green. At the market close on march 3, shares of Raymond and mahindra Lifespace Developers fell by about 2 percent. Phoenix Mills, Sobha, lodha (Macrotech Developers) and Brigade Enterprises were trading in the red with marginal losses. However, the biggest decline on Nifty Realty was the fall in the share price of Lodha.
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