Nifty Realty index down 3% dragged by Indiabulls Real Estate, Phoenix Mills, Sunteck Realty
Updated : July 31, 2019 11:55 AM IST
Shares of Indiabulls Real Estate slumped 11 percent on Wednesday due to the twin effect of Nifty Realty index downfall and Subramaniam Swamy’s letter accusing the Indiabulls Group of embezzling money.
On Wednesday, Nifty Realty remained the worst-performing index trading lower by 2.91 percent. The stock most hit in the index was Indiabulls Real Estate followed by Phoenix, Sunteck Realty and DLF.
Another reason behind investors beating this stock is allegations slapped by BJP leader Subramaniam Swamy on July 29.