Oberoi Realty to Lodha, Godrej Properties: Real estate stocks decline up to 4% after BMC's construction water ban
Real Estate stocks, June 17 -- Shares of several real estate companies came under selling pressure in Wednesday's trade after the Brihanmumbai Municipal Corporation (BMC) announced restrictions on water usage, including the suspension of water supply to construction sites across Mumbai. The move has triggered concerns about potential disruptions to project execution in one of India's largest and most profitable residential property markets.
Among the worst-hit stocks on the National Stock Exchange (NSE), Macrotech Developers (Lodha) fell as much as 4%, while Oberoi Realty and Godrej Properties declined around 3% each. Shares of Aditya Birla Real Estate, Prestige Estates Projects and Anant Raj were also trading lower, falling between 1% a...
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