As per industry sources, given the steep valuations and recent rally in the real estate stocks, HDFC MF has taken a fair call to restrict inflows into its Nifty Realty Index Fund
In a sector-wise analysis, the realty, metal, oil and gas, media, power and auto were up 1-2%, while the information technology and telecom indices were down 0.5% each.
The raised capital, a quasi-debt instrument, will be utilized to capitalize on growth opportunities in the residential sector by developing projects with a gross development value (GDV) of Rs 18,000 crore, spread across four major cities in India.