ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Business

Realty stocks bleed on Govt's black money crackdown

New Delhi [India], Nov 8 (ANI): Everyone from the common man to Dalal Street experts lauded the government's ban on Rs. 500 and Rs. 1,000 notes.

ANI Nov 09, 2016 16:33 IST googleads

Realty stocks bleed on Govt's black money crackdown
New Delhi [India], Nov 8 (ANI): Everyone from the common man to Dalal Street experts lauded the government's ban on Rs. 500 and Rs. 1,000 notes. However, the move is expected to hit many sectors such as real estate and jewellery, where cash transactions are widespread. Sectors like real estate and jewellery that use more of black money will take a big knock after Prime Minister Narendra Modi's massive crackdown with the withdrawal of Rs. 500 and Rs. 1,000 notes. Real estate stocks have taken a pounding in early trade as the sector is expected to feel the heat of the government's move. Shares of leading realty companies like Godrej Properties, DLF, Indiabulls Real Estate, Sobha, Oberoi, HDIL and Unitech were down 12-15 percent. Many brokerage firms like IDFC Securities feels luxury real estate and land prices could correct near term, though it may be a positive over the long run. (ANI)

Get the App

What to Read Next

Business

US stock indices slide after weak February jobs report

US stock indices slide after weak February jobs report

Stock indices in the US fell substantially after Friday's jobs report, which showed the US unexpectedly lost jobs in February, World Street Journal reported.

Read More
Business

Trane Technologies Advances Passive and Personal Cooling Solution

Trane Technologies Advances Passive and Personal Cooling Solution

Bengaluru (Karnataka) [India], March 6: Trane Technologies, a global climate innovator, today announced major advancements to its next-generation Cooling Carts and Cooling Vests--two transformative solutions designed to protect India's most vulnerable communities from extreme heat. Developed in collaboration with the Shell Foundation, these enhancements mark an important step in strengthening heat resilience, improving livelihoods, and reducing economic losses caused by extreme temperatures and perishable spoilage.

Read More
Business

Dalal Street rattled by Iran-Israel conflict, Nifty drops 519 pts

Dalal Street rattled by Iran-Israel conflict, Nifty drops 519 pts

The stock markets in the country tanked in the opening session on Monday as rising tensions and military escalations in the Middle East dented investor sentiment sharply.

Read More
Business

SEBI tightens derivatives oversight after Jane Street episode

SEBI tightens derivatives oversight after Jane Street episode

In an interaction with ANI, the SEBI Chairperson said that the regulator does not comment on individual matters as a matter of policy, but acknowledged that handling the Jane Street case led to a significant reinforcement of oversight mechanisms.

Read More
Business

Nifty, Sensex open marginally higher on positive global cues

Nifty, Sensex open marginally higher on positive global cues

The share markets in the country opened with marginal gains on Thursday, taking positive cues from global markets and overnight gains on Wall Street, as concerns over AI-led disruption eased and investor sentiment improved.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.