Stock Market Live Updates: Sensex trades lower, Nifty around 15,650; banks drag, metals shine

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Yash Gupta Equity Research Associate, Angel Broking

Real estate stocks are back in action after a long consolidation. The real estate market got hit by the COVID in March 2020 and after that the sector has shown a good recovery in the last 6 months. We have a buy call on Godrej Properties with a target price of Rs 1,600. Godrej Property has a robust pipeline of 12.3 msf for upcoming years and is expecting further new launches in Mumbai upon relaxation in lockdown. We are expecting a strong recovery in the residential market in the 2nd half of 2022. The company has a strong brand and we believe that the company would benefit from the trend of organized players gaining share.

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