The family of 127-year-old Godrej Group, which has both, listed and unlisted entities, decided to split the conglomerate and operate as two entities Godrej Enterprises and Godrej Industries. The conglomerate operates across aerospace, aviation, defence, and liquid engines among others.
Mutual Fund houses took fresh exposures to real estate, and pharmaceutical stocks. Watch this Visual Story to see what top mutual fund houses bought and sold last month.
Godrej Properties share price: The stock jumped 9.82 per cent to hit a day high of Rs 1,235.70 over its previous close of Rs 1,125.25. Around 1.28 lakh shares changed hands today, which was more than five times compared to the two-week average volume of 24,000 shares.
BUY COLPAL | TARGET: Rs 1,730 | STOP LOSS: Rs 1,595 The stock is making a higher top and higher bottom formation and is trading in a rising channel on the daily chart. It has provided a breakout from a rounding bottom formation and has scaled to a fresh new high. The volume was higher than average which supports the price action and we can expect the upside momentum to continue. The MACD has provided a fresh buy crossover on the daily chart above the zero line. The stock also witnessed a built-up of long positions with the addition of 15 per cent open interest.
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Oberoi Realty, Godrej Properties, others rise up to 7% as Maharashtra cuts levies on realty projects by 50%
Share of Oberoi Realty rose 6.88% to Rs 628 against previous close of Rs 587.55. Share of Sunteck Realty too gained 6.34% to Rs 369 in early trade against previous close of Rs 347.30.
BusinessToday.In | January 7, 2021 | Updated 11:52 IST
Godrej Properties share climbed 4.5% to Rs 1,527 against previous close of Rs 1,460. Stock of Indiabulls Real Estate rose 5.86% to Rs 83 in early trade against previous close of Rs 78.40.
Real estate stocks such as Godrej Properties and Oberoi Realty rose up to 7% in early trade today after Maharashtra government on Wednesday gave nod to a proposal to reduce levies on real estate by 50% until December 2021. The move is likely to lead to reduction in prices of houses in the state.