Realty stocks climb ahead of major Q4 results, Akshaya Tritiya boost
Real estate stocks witnessed strong buying interest today, with the Nifty Realty index rising 2.28% to trade at 889.10.
The rally came ahead of key earnings announcements from sector majors and coincided with the festival of Akshaya Tritiya, which traditionally sees heightened investment activity.
Among the top performers, Macrotech Developers (LODHA) led the gains with a 4.64% rise, followed by Godrej Properties, which climbed 3.21%. DLF gained 2.32%, while Phoenix Mills advanced 2.14%. Other notable movers included Sobha (up 1.87%), Oberoi Realty (up 1.31%), Brigade Enterprises (up 1.27%), and Prestige Estates (up 0.70%).
Investor sentiment was buoyed by expectations of strong quarterly results from key real estate companies. Phoenix Mills is scheduled to announce its earnings for the JanuaryMarch quarter on April 30, while Godrej Properties will release its financial results on May 2.
In addition to earnings expectations, the real estate sector is also drawing attention due to Akshaya Tritiya, being observed today, April 30. The occasion is considered an auspicious time for new investments, particularly in gold and property, and often leads to increased transaction volumes in the realty market.
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