HDIL (up 3.42%), Indiabulls Real Estate (up 2.05%), Peninsula Land (up 1.92%), D B Realty (up 1.51%), Sobha Developers (up 1.45%), Phoenix Mills (up 1.4%), Oberoi Realty (up 0.44%), Sunteck Realty (up 0.36%), Unitech (up 0.23%) and Parsvnath Developers (up 0.16%), edged higher.
The BSE Realty index was up 0.25% at 1,634.93. It outperformed the Sensex, rising 0.18% at 17,003.25.
The BSE Realty index rose 0.41% to 1630.87 on Friday, 22 June 2012. The BSE Realty index had underperformed the market over the past one month until 22 June 2012, rising 4.10% compared with the Sensex's 5.90% rise. The index had also underperformed the market in past one quarter, falling 7.45% as against 1.30% fall in the Sensex.
The Competition Commission of India (CCI) on Thursday, 21 June 2012, levied a penalty of over Rs 6000 crore on 11 cement companies due to violation of the provisions of the Competition Act, 2002, which deals with anti-competitive agreements including cartels. The CCI said it passed the order following an investigation carried out by the Director General upon information filed by Builders Association of India. CCI has imposed penalty on 11 cement manufacturers at 0.5 times of their profit for the year 2009-10 and 2010-11.
The CCI directed cement firms to cease and desist from indulging in any activity relating to agreement, understanding or arrangement on prices, production and supply of cement in the market. Cement is a key raw material in housing construction.
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