Monday, December 22, 2008

DLF and Unitech gain as Housing Development Finance Corporation and State Bank of India cut interest rates on home loans

DLF Ltd., the nation’s biggest real estate developer, rose to the highest in two months, gaining 3.9 percent to 319.75 rupees as of 11:15 a.m. in Mumbai trading.

Unitech, the second- biggest developer, gained 8.6 percent to 48.05 rupees, the highest in more than a month.

The Realty Index of the Bombay Stock Exchange added 4.3 percent to its highest level since Oct. 21.

The index has climbed 60 percent over the past four weeks, the biggest monthly rise since it was set up in July last year."
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