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Multiple site visits to Lodha s Palava township show a well-planned development taking place, Jefferies said as it highlighted that land prices have doubled in three years. In its view, there is potential upside over the long-term going ahead. Affordable housing policy boost to residential sales is also likely to show its impact soon.
Nifty Pharma is the best performing sectoral index in 2024 so far, after Nifty Realty Index which is up by ~10 percent on YTD basis. Nifty Pharma Index is up by ~3 percent on YTD basis.
“There was a strong run up in the Nifty Realty Index. We have seen that it gained around 8% kind of momentum in this current week and looking at the overall structure for Nifty Realty Index, we believe that this momentum can extend further.”
Shares of Bengaluru-based Sobha jumped 15.82% to an all-time high closing of Rs 1,296.60 after brokerage Motilal Oswal Financial set a price target of Rs 1,400 on the stock while rating it as one of the top picks for 2024.