In realty, DLF will become Infosys; apply at lower band

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Jagdish Malkani, Member NSE feels that at the moment DLF is richly priced. Certainly going to be the major realty play but one would bid on the lower end and do some scalping.

Malkani told CNBC-TV18, "DLF, certainly not inexpensively priced, enough has been said on the subject. Realty whether we like it or not as a sector - it's here to stay, as a leading one. The foreigners love it and certainly the institutions are going to mob this up. DLF will become the Infosys of this sector; at Rs 90,000 odd crore it will be followed far behind by Unitech at Rs 60,000 crore and then comes Sobha Developers and the other gang.

He further added, "Every fund worth its salt will need to have this. So there will be flurry of buying probably after the IPO, it's richly priced but it's the last word in realty, the developments are mind-boggling."

"You can see what they have done especially in North India. But I would say it's a good one for scalping because there will be a lot of follow on demand. Overall realty is looking a bit daisy to me - the whole sector and there is still some rubbing ahead. So in months to come one will get opportunity to get into stocks like DLF at a substantial discount. At the moment it is richly priced. Certainly going to be the major realty play but I would bid on the lower end and do some scalping", he said.