The Nifty Realty index breaks over 10 years. Experts recommend buying these stocks
Real estate stocks to buy today: Due to the new break in the Nifty real estate index, real estate stocks have risen since the morning session. Shares of major real estate companies Godrej Properties led the bullish race and climbed more than 6%, Prestige Estates Projects share price climbed nearly 5%, shares of Indiabulls Real Estate jumped 2.85% while Brigade Enterprises, DLF, Oberoi Realty, Sobha and Mahindra Lifespace Developer stocks added more than 1%.
According to stock market experts, this break in the Nifty real estate index came after 10 years of consolidation. They said real estate stocks could continue to rise and advised investors to buy quality real estate stocks like Oberoi Realty, Sobha, Godrej Properties, Sunteck, Prestige Estates Projects, Brigade Enterprises, etc.
Speaking on the reason for being very bullish on real estate stocks; Santosh Meena, Head of Research at Swastika Investmart, said: âTechnically, the Nifty real estate index is enjoying another breakthrough after 10 years of consolidation paving the way for a further rise in real estate stocks. This is good news for real estate stocks as a market. is already optimistic for the Indian real estate sector as it shows strong growth momentum thanks to low interest rates, supportive government policies and sector consolidation due to RERA and growth in the tech space . “
Asked which real estate stocks to buy today, Santosh Meena of Swastika Investmart said, âInvestors should stick with quality names like Oberoi Realty, Sobha, Godrej Properties, Sunteck, Prestige, Brigade, etc.â
Sumeet Bagadia, Executive Director of Choice Broking, said: âPrestige Estates Projects and Godrej Properties stocks are expected to lead this bull run in real estate stocks. You have to buy these two real estate stocks for maximum gains in this bullish momentum in real estate stocks. Prestige Estates Projects shares can be purchased at the current market price for ??430 to ??450 targets keeping the stop loss at ??390 each. Investors can initiate an aggressive purchase of shares of Godrej Properties to ??1850 to ??1900 targets now stop loss at ??1650. “
Disclaimer: The opinions and recommendations expressed above are those of individual analysts or brokerage firms, not Mint.
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