Investors fancy real estate stocks in Punjab, Chandigarh

Realty stocks have caught the fancy of small investors in Punjab and Chandigarh according to stock brokers and financial experts.

Leading stock brokers told FE in Punjab people have always fancied land and now they had been lured by stocks floated by land developers.

Well know stock broker VKumar of Vikson Finance says retail investors in Punjab and Chandigarh are excited over listing of the stock of DLF, a real estate company.

He says the issue which was in the price band Rs 525–Rs550 got overwhelming response from this region. The next issue is offered to public in the was likely to open at about Rs 1000 per share. Kushal Pal Singh, would become the richest Indian in the world surpassing LN Mittal. Before the public issue, Singh held 99.5% of the total equity of the company amounting to Rs 5 billion $US.

Further he said, DLF had put life into other realty stocks providing much needed oxygen to it. He said that it was ironic real estate stocks were going upward when the real estate market was going down and there was sluggishness in the sale purchase of real estate in the country. Joshi says worldwide it had been proved that stock markets were indicators of things going to happen in future and were ahead of real happenings. He said that the strengthening of real estate stocks shows that real estate sector was likely to witness another boom in next few months.

Source://financialexpress.com