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Article: Property stocks slide as interest rates crawl up.
- Article from:
- Economic Times (New Delhi, India)
- Article date:
- February 11, 2007
CopyrightCOPYRIGHT 2007 The Economic Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Shailesh Menon
Feb. 11--MUMBAI, India -- Fears that property prices could be headed for a meaningful correction seems to be prompting investors in stocks of real estate companies to jump ship. Most realty stocks, which until a couple of months ago were being chased by enthusiastic investors, have shed 10-25 percent over the past one month.
With interest rates gradually crawling higher, players are worried that demand for property could be hit. Stocks of real estate majors like Mahindra Gesco, DS Kulkarni, Ansal Buildwell and Parsvanath Builders and Peninsula Land have been languishing over the past one month.
Shares of Mahindra Gesco, ...