Real Estate Stocks Drop on Weak Demand Worries
MUMBAI: Real estate stocks experienced a decline on Wednesday, marking a third consecutive session of losses. Investors took profits amidst concerns over slowing demand. The realty index dropped by more than 2%, accumulating a total decline of 3.5% over the past three days, in contrast to a 1.1% dip in the benchmark Nifty. Out of the 10 stocks in the index, eight recorded losses on Wednesday. Godrej Properties fell by 4%, while DLF and Oberoi Realty decreased by 3.5% and 2.8%, respectively. Lodha Developers and Phoenix Mills each saw declines of over 2%. “Profit-taking in realty stocks follows last year’s…
