The US financial market crisis will hit the Indian real estate sector hard. The sector was already reeling under severe pressure as RBI has increased the interest rates to contain inflation, besides restricting the fund flow in it. Consultants said that in the present circumstances the real estate prices will go for a sharp correction in the short to medium term.
But before the actual real estate prices come down, the stocks prices have tanked to new lows, already. The Indian Real Estate sector, one of the most speculative sector in the growth story is severely beaten down on the exchanges.They have been making new lows since June-08.
Here is a complete list of All Time High and Low Data of the real estate stocks.
Indian Shareholders Wealth Destroyers:
Ansal Infra – From a High of Rs 550 the stock is now available at Rs 70
Brigade Enter – High of Rs 470, stock is now at Rs 110
DLF – From high of Rs 1,200 stock is available at Rs 380
HDIL – From high of Rs 1,384 stock is available Ex-Bonus at Rs 188
IndiaBulls RealEstate – High of Rs 807, currently at Rs 178
IVR Prime Rs 504 High, Rs 133 now
JaiCorp – RelianceSEZ Speculation Stock – High of Rs 1350 now available at Rs 250
Omaxe Ltd – Rs 500 to Rs 100 [Speculative Realty in Villages surrounding Delhi]
OrbitCorp – Rs 1,000 to Rs Rs 195 [Mumbai Prices Crashing Again ?]
Parsvnath – Rs 525 to Rs 95 [Promoter doesn’t understand the business and wanted to get into Telecom]
Purvankara – Rs 500 to Rs 150 [The Royal Rip off since IPO]
Sobha – Rs 1,000 to Rs 200 [Middle East NRI promoter out of touch on what’s happening in Mumbai]
Unitech – Rs 480 to Rs 115 [Luck doesn’t prevail everytime].
Buy one, get one free!