Realty shares may have been the among the worst performers for the last many months, but they may be close to bottoming out, feels brokerage house CLSA. The brokerage is bullish on DLF, Oberoi Realty and JP Infratech.
"Our channel checks suggest that the new property sales rates are down approx 10-20% year-on-year; market probably believes that the drop is higher," CLSA analysts Mahesh Nandurkar and Abhinav Sinha said in their note to clients. "New project launches by the listed cos have improvedDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
