Indian Real Estate Bulls Hiding?

Where are the Indian Real Estate Bulls hiding ? In my last post I had said, the realty stocks have shed more than 50% in the market meltdown signaling a slowdown and possibly the burst of the bubble. The chart below shows the current stock prices of Indian Realty Stocks as Traded on the NSE at 2:15 PM today.
We also present the 52 week High for the above mentioned scrips and you calculate the percentage fall yourself :-)

• Orbit Corp - Rs 1080 in Jan-2008
• Purvankara Projects - Rs 532 in Jan 2008
• Parsvnath Developers - Rs 594 in Jan 2008
• Ansal Housing - Rs 405 in Jan 2008
• Peninsula Land - Rs 162 in Jan 2008
• Akruti Constructions - Rs 1380 in Jan 2008
• Unitech - Rs 540 in Jan 2008
• Omaxe Developers - Rs 591 in Nov 2007
• IVR Prime - Rs 500 in Dec 2007
• IndiaBulls RealEstate - Rs 840 in Jan 2008
• DLF - Rs 1200 in Jan 2008

Most stocks have lost more than 50%. Unfortunately, the Indian Realty still lacks professional companies and is still under the grip of local politicians and goons.

It is rumored that H.D.Devegowda Family and some local politicians are unwinding huge positions in Real Estate in Bangalore ahead of the state assembly elections.