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Below is quote on S&P BSE Realty index consolidating since last 2.5 months, is it good time to buy By Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd

S&P BSE Realty index trading at 3876, down by 13.2% from highs of 4464 in November, in last 2.5 months we have seen a good consolidation in realty stocks. We believe that the real-estate sector is in a long term upcycle and this was a health consolidation of the last 2.5 months. We expect the growth story in residential real-estate to continue for the time being and listed players continue to gain market share in top-10 cities. As per the recent month registration data, the South Indian market continues to do well, we believe that it will continue to do well in the upcoming quarter also.

We have a buy call on Sobha Limited with a target price of 970.

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