Quote on S&P BSE Realty index corrected around 15%, is it good time to buy real-estate stocks By Mr. Yash Gupta, Angel One Ltd
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Below is quote on S&P BSE Realty index corrected around 15%, is it good time to buy real-estate stocks by Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd
We have seen a good correction in the real-estate sector in the last 15 days, S&P BSE Realty down by around 15% from highs of 4464 to 3822 in the last 15 days. We have seen a border market correction in the last 15 days, nifty down by 8% while nifty midcap down by 10.5%. We believe that the real-estate sector is in a long term growth momentum and we expect the growth story to continue. We expect top-10 developers to continue to gain market share in the top-10 cities of India and along with that customers, preference of ready to move property or nearby completion property will continue. We continue our buy call on Sobha Limited with a target price of 970.
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