Realty stocks gain as report say inventories declined by 7% in H1CY2016

NEW DELHI: Shares of real estate companies rallied on Tuesday led by Unitech after a report said inventories declined by 7 per cent in the first half of CY2016.

The report compiled by Knight Frank India said demand for new homes grew 6 per cent during the year, suggesting a renewal in buyer appetite.

Reacting to the development, share of Unitech closed 7 per cent higher, Prestige 1.2 per cent and NBCC 0.8 per cent.