Real estate and construction stocks surge after PMAY announcement, Godrej Properties and NCC see significant gains
Real EstateConstructionPmayHousingMarketReal Estate NewsJun 13, 2024
Pradhan Mantri Awas Yojana (PMAY) is a housing scheme launched by the Government of India in 2015 with the aim of providing affordable housing to all by 2022.
The goal of PMAY is to provide affordable housing to all by 2022.
Companies such as Godrej Properties, UltraTech Cement, Mahindra Lifespace, LIC Housing, ShreeCement, and NCC saw significant gains in their stock prices after the PMAY announcement.
The broader market saw buying interest, with the Sensex up 399 points or 0.52 per cent, at 76,855, and the Nifty up 134 points or 0.58 per cent, at 23,399.
The PMAY announcement is expected to provide a significant boost to the real estate sector, which has been facing challenges in recent times.
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