According to a recent article on Moneycontrol, realty stocks have been on the rise, with Macrotech Developers, Sobha, and DLF shares surging up to 20% 1. This surge in stock prices is attributed to Motilal Oswal naming Sobha as one of its top stock picks for the year 2024 1.
In addition to Sobha, Edelweiss has also recommended DLF and Macrotech Developers as top realty stocks to buy 2. According to Edelweiss, realty stocks are attractive from a medium-term perspective despite higher interest rates 2. DLF and Sobha have existing land banks, which is aiding their cash flows 2.
It is worth noting that this is not the first time that realty stocks have seen a surge in prices. In the last six months, Macrotech Developers shares have rallied nearly 55%, Prestige Estates Projects jumped over 58%, DLF shares surged 43%, Godrej Properties up 40%, and The Phoenix Mills soared 36% 3. Among the 10 real estate stocks in the Nifty Realty index, Prestige Estate Projects shares have jumped 146% year-to-date (YTD), while Brigade Enterprises and DLF shares have risen over 86% each. Sobha, Macrotech Developers, Oberoi Realty, Godrej Properties, and The Phoenix Mills share prices have gained anywhere between 50% to 80% YTD 4.
The realty sector seems to be on an upward trajectory, and it will be interesting to see how these stocks perform in the coming months.
0 Comments