NEW DELHI: Real estate stocks are the top sectoral gainers on Monday with the index up more than 3 per cent.
The BSE Real Estate Index is up 3.86 per cent led by Prestige Estates which is up almost 7 per cent. DLF is up more than 5 per cent, Sobha is up more than 5 per cent, and Lodha is up more than 3 per cent.
Prestige Estates was up almost 7 per cent after it announced a strategic deal with the Abu Dhabi Investment Authority (ADIA) and Kotak AIF. The Rs 2,001 crore ($240 million) deal is dedicated towards the development of residential projects in prominent locations across four cities in India.
Metal stocks are among the top gainers with the index up 3.3 per cent. NMDC is up more than 5 per cent, Vedanta is up almost 5 per cent, JSW Steel is up more than 4 per cent, Tata Steel is up more than 4 per cent, and SAIL is up over 4 per cent. JSW Steel and Tata Steel are the top Sensex gainers on Monday.