Realty stocks hog limelight; Unitech shines with 15 per cent gain

MUMBAI: Led by Unitech, shares of realty firms were in limelight today, surging as much as 15 per cent on hopes of reform measures and economic recovery. Shares of Unitech surged 14.85 per cent to settle at Rs 26.30, while Oberoi Realty gained 9.48 per cent to Rs 243.75 on the BSE.

Prestige Estates Projects rose by 7.10 per cent, while Sobha Developers gained 2.75 per cent and Godrej Properties was up 2.27 per cent. Tracking the gains in these stock, the BSE realty index ended 4.89 per cent higher at 1,800.47, emerging as the top gainer among the BSE's 13 sectoral indices.

"There is optimism seen on the bourses after clear win for the BJP in the general elections last week. Going ahead, further reform measures and economic recovery will trigger further buying in the index," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio Ltd. The stock market ended on a flat note, with the BSE's 30- share Sensex ending at 24,376.88, up 13.83 points.